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Irish Aircraft Leasing Newsletter 22 June

Irish Aircraft Leasing Newsletter 22 June

CDB Aviation’s Investment Grade Rating Reaffirmed by S&P Global, Fitch and Moody’s

CDB Aviation announced that the company’s investment grade rating has been reaffirmed by the ‘big three’ global credit rating agencies: S&P Global Ratings , Fitch Ratings, and Moody’s Investors Service. CDB Aviation Chief Executive Officer Patrick Hannigan said “We’re very delighted to receive the issuer IG rating reaffirmations from the three credit agencies. These endorsements acknowledge the continued strength of our operating platform and the robust success of our top-calibre team’s ongoing efforts to position the business to deliver from a position of strength to meet both the near-term and long-term needs of our airline customers and further advance growth momentum during these unprecedented times.”

David Joyce to Retire from GE; John Slattery to Become President and CEO of GE Aviation

GE announced that David Joyce, vice chair of GE and president and CEO of GE Aviation, will retire from the Company after 40 years of service. With David’s retirement, John Slattery, Embraer’s president and CEO of Commercial Aviation, has been named president- and CEO-elect of GE Aviation, effective July 13. At GE Aviation, Mr. Slattery will run the world-leading provider of commercial and military jet engines and services, as well as avionics, digital solutions, and electrical power systems for aircraft. In order to ensure a smooth and thorough handover, Mr. Slattery will fully assume the role of president and CEO of GE Aviation on September 1, 2020, at which point Mr. Joyce will transition to non-executive chair of GE Aviation through December 31, 2020.

Wilmington Trust Cleared as Trustee in the U.S. and Ireland for Newly Launched Global Aircraft Trading System Platform

Wilmington Trust, a leader in corporate and institutional trust services, announces it has been cleared as a trustee in the U.S. and Ireland for the Aviation Working Group’s (AWG) newly launched electronic Global Aircraft Trading System (GATS) platform. “We are proud to be a cleared trustee for the new GATS platform, which will be a great help to move the industry away from paper documents and fully into the digital age,” said Chris Sponenberg, Vice President, Wilmington Trust. “One of the key benefits of this platform is that it will help all participants better understand trust structures and to do so at their own convenience.”

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