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Irish Aircraft Leasing Newsletter 25 January

Irish Aircraft Leasing Newsletter 25 January

AerSale Announces Additional Boeing 757 Passenger-To-Freighter Conversions at Its Goodyear, AZ MRO Facility

AerSale that it has inducted the first of its 24-owned Boeing 757-200 aircraft for passenger-to-freighter (“P2F”) conversion at its heavy-MRO center in Goodyear, AZ. The first aircraft was delivered by Boeing in 1999 to American Airlines. All 24 of these aircraft are powered by Rolls-Royce RB211-535 engines, making this fleet the narrow-body freighter of choice due to its attractive payload, range and cost of ownership characteristics.

Avolon Announces Pricing of US$1.5 Billion Senior Unsecured Notes Offering

Avolon announced the successful pricing of a private offering by its wholly owned subsidiary, Avolon Holdings Funding Limited, for a principal aggregate amount of US$1.5 billion. Avolon intends to use  proceeds from the offering will be used for general corporate purposes, which may include the future repayment of outstanding indebtedness.

BBAM Adds Up to 12 737-800 Boeing Converted Freighters

Boeing and BBAM Limited Partnership announced the lessor is expanding its 737-800 Boeing Converted Freighter fleet with six firm orders and six options. The agreement brings BBAM’s 737-800BCF orders and commitments to 15 and highlights the continued strength of the e-commerce and express cargo market. “As we look ahead to expanding our cargo fleet, the 737-800 Boeing Converted Freighter provides the performance and efficiency our customers need,” said Steve Zissis, CEO of BBAM. “Adding these highly capable freighters to 276 Boeing airplanes in our managed fleet helps to further strengthen our leadership position in the marketplace.”

Falko Regional Aircraft Concluding a $130m Subscription Facility

Falko has successfully concluded a $130m Subscription Facility for the Falko Regional Aircraft Opportunities Fund II LP (“Fund II”).  The facility is provided by Goldman Sachs International Bank and can be used to provide liquidity to Fund II in support its investment activities. Falko’s Chief Financial & Operating Officer Martin Brennan said “This Subscription Facility reflects the high quality investor base in Fund II and provides significant debt capacity to the Fund.  We are very pleased to have concluded another deal with Goldman Sachs in 2020 at a time when many other banks are cutting back on lending.”

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