Monday, 17 October 2016

Irish Aircraft Leasing Newsletter 17 October 2016

Ryanair Boeing 737-8AS 
AerCap Delivers Airbus A320neo Aircraft on Lease to Spirit Airlines

AerCap announced the delivery of an Airbus A320neo on lease to Spirit Airlines, making the airline the first U.S. airline to receive the aircraft type. This is the first of 5 A320neo aircraft to deliver to Spirit Airlines with a further 4 A320neo aircraft on order, expected to deliver through 2016.  AerCap has one of the largest Airbus A320neo Family portfolios with a total of 2 owned and 217 on order aircraft, delivering through 2021.

AerCap Leased, Purchased and Sold 143 Aircraft in the Third Quarter 2016

AerCap announced in Q3 it executed sale transactions for 40 aircraft and exercised options to purchase 10 Airbus A320neo Family aircraft with deliveries in 2021 and executed sale transactions for 40 aircraft and purchased 7 aircraft, including 1 Airbus A320neo, 3 Airbus A350-900s, 1 Boeing 787-8 and 2 Boeing 787-9s. It signed lease agreements for 96 aircraft, including 10 widebody and 86 narrowbody aircraft.

Avolon to acquire aircraft leasing business of CIT Group

Avolon Holdings a wholly owned subsidiary of Bohai Capital Holding Co announced an agreement to acquire the aircraft leasing business of CIT Group Inc. The Transaction will create a leading aircraft leasing business with an owned, managed and committed fleet of 910 aircraft valued at over US$43 billion. The Transaction is subject to customary closing conditions and required regulatory approvals and is expected to close in 2017Q1.

Finnair finalizes sale and lease back agreement with GECAS

Finnair have finalised their arrangement with GE Capital Aviation Services Limited (GECAS) by which Finnair sells the Airbus A350 aircraft and leases back for its own operation. Inital lease period is 12 years with the option to extend. The arrangement has a non-recuring effect of 40 million euros ($44.7 million) on Finnair’s operating profit for the third quarter of 2016. A similar agreement is in place for Finnair’s next A350 aircraft, expected in the first quarter of 2017.

GECAS’ Cargo Aircraft Group Announces its First 737-800NG Passenger-to-Freighter Conversion Placement with ASL Aviation Group

GE Capital Aviation Services (GECAS) announced the placement of its first 737-800NG passenger-to-freighter converted aircraft with Dublin, Ireland based ASL Aviation Group. The agreement covers the lease of two 737-800NG freighters. The aircraft will be converted into freighter configuration by Miami-based Aeronautical Engineers, Inc. (AEI). GECAS announced the launch of its passenger-to-freighter conversion program at the Paris Air Show in June 2015. Both aircraft are currently operated by China Southern and will enter the conversion program next year and will redeliver as freighters during 2018.

SKY Leasing Acquires Initial Seven Aircraft

Through two separate secondary market transactions, SKY Aviation Leasing International Limited acquired seven commercial aircraft on lease with five existing customers (airberlin, Gol Linhas Aéreas, Jet Airways, SpiceJet, and Thai Lion Air) and two new customers (Beijing Capital Airlines and China Airlines). Consistent with SKY Leasing's investment strategy of building a fleet of young mid-life aircraft on long-term leases with top-tier airlines globally, the transactions were funded with a recently closed $750 million warehouse debt financing facility. The portfolio of acquired assets includes one A321-200, four B737-800s, one 737-900ER, and one A330-300.

Irish Aviation Research Institute © 17 October 2016 All Rights Reserved.

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