Monday, 24 October 2016

Irish Aircraft Leasing Newsletter 24 October 2016

                                                 
EI-RJT RJ85 Cityjet
FLY Leasing Extends 2012 Term Loan

FLY Leasing Limited announced that it extended the maturity date of its 2012 Term Loan from August 2019 to February 2022. The Term Loan had a balance of approximately $410 million as of September 30, 2016. In connection with the extension, FLY paid its lenders a one-time fee of 0.25% of the current outstanding principal amount. “FLY continues to manage its liability structure in an aggressive manner, taking every opportunity to extend its debt maturities, de-risk its financial position and secure attractive, long-term financing to fund growth,” said Colm Barrington, CEO of FLY.

GECAS and Atlantic AirVenture Aviation Centre Shannon have collaborated to develop a one week intensive program targeted at Transition Year (TY) students in local Shannon schools

GECAS and Atlantic AirVenture Aviation Centre Shannon have collaborated to develop a one week intensive program targeted at Transition Year (TY) students in the local schools. GECAS TY Aviation Academy is designed to attract teenagers who have a keen interest in an aviation career and gives them an opportunity to get a behind-the-scenes look at the industry. “GECAS is very serious about attracting the best and brightest in the aviation sector,” said Eleanor O’Connell, SVP Process Management & Controls GECAS. “We want to encourage millennials who are serious about a career in aviation to pursue their dreams.”

GE Capital Aviation Services Delivers First Airbus A320neo to Brazil’s Azul

GE Capital Aviation Services Limited (GECAS) announced delivery of a new, leased Airbus A320neo to Azul Linhas Aéreas Brasileiras S/A to expand and modernize the carrier’s fleet. The Airbus A320neo aircraft, powered by CFM International LEAP-1A engines, is the first of eight scheduled for delivery to Azul by the end of 2019. All eight are part of GECAS’ existing order book with Airbus. CFM International is a joint venture between GE and Safran Aircraft Engines.

Stobart Air takes tighter control of leasing businesses

Stobart Group PLC is taking tighter control of the its aircraft leasing businesses in a two-part deal with the City investor Invesco Asset Management. It has agreed to pay £12mln for 33.3% of Propius, the leasing operation, taking its holding to 66.6%. Based in the Cayman Islands, Propius was established in 2013 as a joint venture between Aer Lingus, Invesco and Stobart Air. Propius owns the Stobart Air ATR72-600 aircraft and leases them on a long term basis to the airline.

Irish Aviation Research Institute © 24 October 2016 All Rights Reserved.

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