Aircastle Appoints Douglas Winter as Chief Commercial Officer
Aircastle announced 1 April that Douglas Winter has been appointed as Chief Commercial Officer of its affiliate, Aircastle Advisor LLC, and he will join the company at the end of April. He will succeed Michael Kriedberg, who will become a senior advisor through the remainder of 2019 in order to ensure a smooth transition. Mr. Kriedberg previously announced his intention to retire as of January 1, 2020.
Arctic Aviation Assets announces Sale of two Boeing 737-800s
Arctic Aviation Assets, a subsidiary of Norwegian Air Shuttle has signed an agreement for sale of two Boeing 737-800 aircraft, subject to final documentation. The aircraft are currently operated by the Company, and the deliveries will take place late in Q3 and early in Q4 2019. The transaction is expected to increase the Company’s liquidity by $21 million after repayment of debt and have a positive equity effect. The sale proceeds will be used to repay debt and to increase the Company´s liquidity.
Avolon’ fleet grows by 5% to 951 aircraft
The Irish aircraft leasing company Avolon announced its fleet grew by 5% to 951 units year-on-year to the end of March. The company, the third largest in the world, released a trading update for the first three months of the year, saying it had executed a further eight lease transactions. Twelve new aircraft were delivered to nine customers while 20 aircraft were sold during that time. The lessor took delivery of 33 new aircraft.
Elix Aviation Capital Confirms the Sale of a Portfolio of Six Turboprop Aircraft with Leases Attached
Elix Aviation Capital confirmed 31 March that it has concluded the sale of a portfolio of six turboprop aircraft with leases attached to Chorus Aviation Capital. This portfolio includes two ATR 72—600 aircraft: MSN 967 and MSN 987 on lease to Azul of Brazil; and four Bombardier Q400 aircraft: MSN 4540 and MSN 4542 on lease to Ethiopian Airlines and MSN 4110 and MSN 4554 on lease to Jambojet of Kenya. This transaction represents Elix’s first portfolio sale of aircraft with leases attached.
KBRA Assigns Preliminary Ratings to START II Ltd. and START II USA LLC
Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three series of notes issued by START II Ltd. and START II USA LLC. GE Capital Aviation Services Limited will act as servicer for the transaction. This transaction is the fifteenth third party portfolio securitization serviced by GECAS and the fourth of those rated by KBRA. KBRA notes that an affiliate of GECAS will be acquiring a small minority percentage of the equity in STARR II. The proceeds from the sale of the Notes will be used to acquire narrowbody 20 aircraft.
NAC delivered one Embraer E190, MSN 19000199, to Helvetic Airways on lease
Nordic Aviation Capital (NAC) confirmed 3 April the delivery of one Embraer E190, MSN 19000199, to Helvetic Airways on lease.
NAC sold one ATR 72-600, MSN 1187, to Travira Air
Nordic Aviation Capital (NAC) confirmed 3 April that it has sold one ATR 72-600, MSN 1187, to Travira Air.
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