Air Lease Corporation Announces Pricing of Public Offering of $1.1 Billion of Senior Unsecured Medium-Term Notes
Air Lease Corporation announced the pricing on 9 September of its public offering of $600 million aggregate principal amount of 2.250% senior unsecured medium-term notes due January 15, 2023 and $500 million aggregate principal amount of 3.250% senior unsecured medium-term notes due October 1, 2029. The sale of the Notes is expected to close on September 16, 2019, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness. Fifth Third Securities, Inc., J.P. Morgan Securities LLC, SG Americas Securities, LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering of the Notes.
Alaska Airlines asks guests to help reduce inflight plastic waste through #FillBeforeYouFly
Alaska Airlines announced 12 September its #FillBeforeYouFly initiative to partner with guests and employees to continue reducing the use of single-use plastics inflight. The aim: rally with flyers to bring their own water bottle and fill it before they board. This is one of Alaska Airlines’ many sustainability efforts to reduce inflight waste per passenger going to landfills by 70% by 2020
Elevate Capital Partners Acquires Three E195 Leases
Elevate Capital Partners LLC closed its fourth transaction, wherein it arranged for the acquisition by a large financial institution of three (3) Embraer E195 aircraft (MSN 19000475, 19000660, and 19000662) on lease to Azul Linhas Aéreas Brasileiras S.A.
Embraer Signs Heavy Maintenance Services Agreement with Horizon Air
Embraer announced that Horizon Air, a subsidiary of Alaska Air Group, has selected Embraer Aircraft Maintenance Services (EAMS) in Nashville, Tennessee, as the exclusive heavy maintenance provider for the company’s fleet of 30 Embraer E175 aircraft. The multi-year agreement includes airframe maintenance, modifications and repair services provided by Embraer’s portfolio of solutions TechCare. Fittingly, the deal was signed at the Regional Airline Association’s 44th Annual Convention that took place in EAMS’s hometown of Nashville, Tennessee. “We are delighted to further expand our relationship with Horizon Air, and we are honored that our valued customer has selected EAMS as their home for Embraer heavy maintenance,” said Phil Bathurst, Managing Director, Embraer Aircraft Maintenance Services.
JetBlue Greets Guyana with Latest Route Made Possible by Extended Range and Fuel Efficiency of the Airbus A321neo
JetBlue announced it is again expanding its large Latin America and Caribbean network with new nonstop service between New York’s John F. Kennedy International Airport (JFK) and Georgetown, Guyana’s Cheddi Jagan International Airport (GEO) . Flights will operate daily on JetBlue’s new A321neo aircraft beginning 2 April 2020. “Guyana service introduces a diverse and underserved destination to the JetBlue route map which will benefit both leisure travelers, as well as those visiting friends and relatives,” said Andrea Lusso, director route planning. “Just as we’ve done in our South American markets in Colombia, Ecuador and Peru, we’re introducing a new, low fare high-quality choice to travelers in Guyana.” “The Government of Guyana is delighted to welcome the services of JetBlue to Guyana,” said, Guyana’s Minister of Public Infrastructure, the Honourable David Patterson. “The introduction of this immensely popular low cost carrier will see lower ticket prices to Georgetown and provide travelers with an opportunity to fly on an airline of choice to their favorite destination. This agreement with JetBlue is timely and comes on the heels of continued and sustainable growth in several sectors of our economy, including, service, tourism, mining and oil and gas.”
Kroll Bond Rating Agency (KBRA) assigns a senior unsecured rating of A- with a Stable Outlook to the 2-part Medium-Term Notes, Series A, due 2023 and due 2029, to be issued by Air Lease Corporation. The company intends to use the proceeds for general corporate purposes, which may include the purchase of aircraft and the repayment of existing indebtedness. KBRA most recently affirmed the Company’s issuer and senior unsecured debt ratings of A- on December 14, 2018. The Notes will be structurally subordinated to all existing and future indebtedness and other liabilities of our subsidiaries. The ratings of Air Lease are supported by strong financial fundamentals, as reflected by a low leverage strategy, strong profitability, liquidity and cash-flow metrics, and largely unencumbered asset base.
Metro takes delivery of first Airbus EC145e helicopter made in U.S
Airbus Helicopters Inc. has delivered to Metro Aviation Inc. the first EC145e produced at its U.S. assembly plant in Columbus, Mississippi. This latest aircraft delivery is part of an order for 25 that Metro placed in 2018, and the remaining aircraft will all be delivered out of Columbus.
Rich Corrado Elected President of ATSG
Air Transport Services Group announced that its Board of Directors has elected Richard F. Corrado, 59, currently chief operating officer, as president of the aircraft leasing and air transport services company, effective 16 September. As president, Corrado will be responsible for goal-setting and oversight of all ATSG businesses. Joseph C. Hete remains chief executive officer and a director of ATSG.
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