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North American Newsletter 18 October

North American Newsletter 18 October

Aviation Capital Group Announces Delivery of One Boeing 737-8 MAX to TUI Travel

Aviation Capital Group announced the delivery of one new Boeing 737-8 MAX aircraft on long-term lease to TUI Travel. This Boeing 737-8 MAX aircraft, powered by CFM International’s LEAP-1B engines is part of a multi-aircraft transaction between ACG and the airline. “We are pleased to announce the delivery of this Boeing 737-8 MAX aircraft to TUI Travel, and we look forward to continuing to grow our long-term relationship with the TUI Travel team,” said Tom Baker, CEO and president of ACG.

Chorus Aviation announces new three-year committed operating credit facility

Chorus Aviation announced that it has entered into an agreement for a three-year committed operating credit facility with The Bank of Nova Scotia as lender, sole lead arranger, bookrunner, administrative agent and issuing bank, and the Canadian Imperial Bank of Commerce and the Bank of Montreal as lenders. The New Facility replaces Chorus’ credit facility under the second amended and restated credit agreement dated June 28, 2019 which provided a $75 million committed limit and was scheduled to mature in August 2022.

Jetstream Aviation Capital delivers one Saab 2000 to Air Charter Express

Jetstream Aviation Capital announced the delivery of one Saab 2000 aircraft to Air Charter Express, the passenger division of Freight Runners Express. The aircraft, serial number 2000-008, is the first of a multi-aircraft commitment between Jetstream and Freight Runners Express and will be used within the airline’s contractual and ad hoc passenger charter business.

SMBC Aviation Capital announces lease agreements for 20 A320neo aircraft with Spirit Airlines

SMBC Aviation Capital announced that it has concluded a lease agreement for twenty (20) Airbus A320neo aircraft with Spirit Airlines. The agreement with Spirit Airlines (‘Spirit’) consists of the sale and leaseback of fourteen (14) A320neo aircraft, to be delivered from November 2021 through September 2022, in addition to six (6) direct A320neo lease placements from SMBC Aviation Capital’s orderbook. These will be delivered to Spirit from September 2022 through February 2023.

United Plans Largest Transatlantic Expansion in its History, Including 10 New Flights and Five New Destinations Debuting Summer 2022

United announced the largest transatlantic expansion in its history, including 10 new flights and five new, vogue destinations – Amman, Jordan; Bergen, Norway; Azores, Portugal; Palma de Mallorca, Spain and Tenerife in the Spanish Canary Islands. All of the new routes – which are set to begin in Spring 2022 – are not served by any other North American carrier. Additionally, next year, United will add new flights to five popular European destinations: Berlin, Dublin, Milan, Munich and Rome. Lastly, United will launch seven routes that were interrupted due to the pandemic to Bangalore, Frankfurt, Tokyo’s Haneda Airport, Nice and Zurich. Flights are subject to government approval. United SVP International network and Alliances said “Given our big expectations for a rebound in travel to Europe for summer, this is the right time to leverage our leading global network in new, exciting ways. Our expansion offers the widest range of destinations to discover – introducing new, trendy locales that our customers will love, as well as adding more flights to iconic, popular cities.”

Universal Hydrogen Secures Additional $62 Million in Financing to Accelerate First Test Flight of Hydrogen-Powered Regional Aircraft to 2022

Universal Hydrogen announced a funding round yielding $62 million in new capital. This funding will enable Universal Hydrogen to conduct the first test flight of its hydrogen fuel cell powertrain on a 40+ passenger regional airliner in 2022 at Moses Lake, Washington. The company anticipates entry into commercial service in 2025 with a certified retrofit conversion kit for existing ATR 72 and De Havilland Canada Dash-8 regional airliners and a green hydrogen fuel services offering. Universal Hydrogen has secured a substantial commercial order pipeline, including previously-announced LOIs from Icelandair, Air Nostrum, Ravn Alaska, and ASL Aviation Holdings.

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