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Irish Aircraft Leasing Newsletter 30 October

Irish Aircraft Leasing Newsletter 30 October

AerCap Delivers a New Boeing 787-9 Dreamliner to Air New Zealand

AerCap announced 22 October the delivery of a new Boeing 787-9 Dreamliner on long-term operating lease to Air New Zealand. This is the first new 787-9 aircraft to deliver to Air New Zealand from AerCap’s order book with Boeing. “The delivery of this new Boeing 787-9 to Air New Zealand marks another milestone between our two companies, building on a 30-year history of successful cooperation,” said Aengus Kelly, CEO of AerCap. “We are delighted to continue to support Air New Zealand’s fleet renewal strategy and sustainable growth ambitions with the addition of this new Dreamliner, which will offer excellent operational performance and environment efficiency, significantly reducing fuel emissions and noise levels. We wish Jeff McDowall and all the team at Air New Zealand continued success.”

CCB signs $500m deal to base aircraft leasing division in Ireland

China Construction Bank Leasing International (CCBLI) announced 16 October the establishment of its international headquarters in Ireland. CCBLI is a subsidiary of China Construction Bank (CCB), one of the world’s largest companies. The company plans to grow its aircraft leasing business from 17 to 200 aircraft over the next five years. Hongzhang Wang, chairman, China Construction Bank, said: “Ireland is an ideal launch pad for European, African and American markets and we aim to expand into shipping and other leasing activities from our Irish base in the future. CCBLI’s international expansion of its aircraft leasing division is integral to the development of our transport portfolio and will assist in establishing CCBLI as a world leader in leasing business.”

Garuda Indonesia to Operate Two 737-800 Converted Freighters from GECAS

Garuda Indonesia and GECAS have entered into a lease agreement for two 737-800 Boeing-converted freighters (BCF). The passenger-converted aircraft are slated to be phased in mid-2020 and will provide additional capacity to Cargo Garuda Indonesia, the Indonesian National carrier’s strategic business unit with three freighters currently in use. “GECAS is excited to provide these converted 737-800 freighters to Garuda as they expand their dedicated cargo fleet,” said Richard Greener, GECAS senior vice president and manager of the Cargo Aircraft Group.

GECAS and IAI Launch the 777-300ERSF Freighter Program

GECAS and Israel Aerospace Industries (IAI) announced 16 October the launch of the Boeing 777-300ERSF, and the establishment of a passenger to freighter conversion program. Dubbed “The Big Twin” — denoting its status as the largest ever twin-engined freighter — the initiative is jointly funded by GECAS and IAI. With agreements signed in July 2019 and a prototype aircraft to be provided by GECAS, the 777-300ERSF Supplemental Type Certificate (STC) Development Program has now been launched. As launch customer and co-funder of the program, GECAS will commit fifteen firm orders and has fifteen additional options for the 777-300ERSF from GECAS’ owned portfolio to the Program (including the prototype aircraft). 

Seraph Aviation markets debut $726M aircraft-lease ABS

Seraph Aviation Management launched its first-ever aircraft-lease securitization after a dozen years of managing passenger airline fleets. The $726 million Raptor Aircraft Finance I Ltd. is a transaction backed by a portfolio of 16 narrow-body and three wide-body aircraft – all of which are relatively young planes with an average age of 3.92 years

Touchdown for TrueNoord in US market as regional specialist leases six Embraer E170 to Republic Airways

Republic Airways, the regional airline operating a service as American Eagle, Delta Connection and United Express in the US, has leased six Embraer 170s from TrueNoord, the specialist regional aircraft lessor. These aircraft have been operating with Republic Airways since 2005 and have now been purchased by TrueNoord with leases attached from GA Telesis. This is TrueNoord’s first fleet deal in North America. In closing this milestone deal, TrueNoord adds a new aircraft type to its portfolio and increases their EJet fleet to 28, of which six are Embraer E170s, and the total fleet to 41 including 12 turboprops.

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