Apollo and Athene to Acquire PK AirFinance from GECAS
Apollo Global Management, LLC and GE Capital, the financial services arm of GE announced 29 August that they have entered into a definitive agreement for Apollo and Athene to purchase PK AirFinance, an aviation lending business, from GE Capital’s Aviation Services (GECAS) unit. In connection with this transaction, Apollo will acquire the PK AirFinance aircraft lending platform and Athene will acquire PK AirFinance’s existing portfolio of loans. James Zelter, Co-President of Apollo, said “We are very excited to be acquiring the PK AirFinance platform which, under GE’s outstanding stewardship, has become one of the world’s leading aircraft lending businesses, and is highly complementary to our existing aircraft leasing capabilities. This transaction also demonstrates our ongoing commitment to meet the investment needs of Athene and our clients, and is consistent with our objective to continue to expand Apollo’s capabilities to directly originate high quality assets.”
Genesis leases A320-200 to Pan Pacific Airlines
Genesis announced 4 September the delivery of an A320-200, MSN 2112 equipped with V2500 engines to our new customer Pan Pacific Airlines. Karl Griffin, Chief Executive Officer of Genesis, said “We are delighted to continue expanding our global customer base and to support growing airlines by delivering the lift required to build their network. We look forward to continuing our new relationship with Pan Pacific Airlines.”
NAC delivered one ATR 72-600, MSN 1261, to Air Nostrum on lease
Nordic Aviation Capital (NAC) announced 30 August the delivery of one ATR 72-600, MSN 1261, to Air Nostrum on lease.
Nordic Aviation Capital delivers another record year and announces its 23rd consecutive year of increased profit
Nordic Aviation Capital DAC (NAC) announced 2 September its financial results for the year ended 30th June 2019. 2018/19 was another record year as it delivered its 23rd year of consecutive profitability with total revenue increased by 21% to $890 million. Søren M. Overgaard, CEO of NAC said “This year’s financial results demonstrate another record year for NAC. We successfully delivered on our strategic initiatives, which is a testament to and a reflection of the hardworking, dedicated, and passionate team at NAC without whom the successful year we delivered would not have been possible. In 2019/20, we expect to continue our growth journey and deliver the 24th consecutive year of increased profit – as we remain committed to maintaining our position at the heart of regional aviation.”
Smith, Gambrell & Russell Represents Avolon in Sale of Portfolio of 49 Regional Jet Aircraft to Falko
Smith, Gambrell & Russell, LLP (SGR) announced 26 August the firm served as lead legal counsel to firm client Avolon, an international aircraft leasing and management company, in its sale of a portfolio of 49 regional jet aircraft to Falko Regional Aircraft Limited (Falko), an aircraft operating leasing and asset management company focused on the regional aircraft sector. The portfolio, which includes 28 Embraer EJet and 21 Bombardier CRJ aircraft, is on lease to nine separate airlines around the globe.
S&P Global Ratings: STRONG Ranking Affirmed on ORIX Aviation Systems Ltd. As A Commercial Aircraft Lease Servicer; Outlook Is Stable
S&P Global Ratings affirmed its STRONG overall ranking on ORIX Aviation Systems Ltd. (ORIX Aviation) as a commercial aircraft lease servicer in Ireland. The outlook is stable.
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