Monday, 21 November 2016

Irish Aircraft Leasing Newsletter 21 November

Ryanair Boeing 737-8AS 
Avolon delivers one Boeing 787-9 to Hainan Airlines

Avolon announced on 11 November the delivery of one Boeing B787-9 aircraft to Hainan Airlines. This is the sixth Avolon aircraft on lease to Hainan Airlines.

FLY Leasing Reports Third Quarter 2016 Financial Results

FLY Leasing Ltd reported third-quarter earnings of $22.9 million on revenues of $80.7 million acquirubg seven aircraft at a cost of $467 million and sold three older aircraft for a gain of $4.1 million. FLY Leasing's CEO Colm Barrington said "In the quarter we sold three aircraft with an average age of 15 years, generating a gain of $4.1 million, a 19% premium to net book value,  meanwhile, we invested $467 million in seven aircraft with an average age of about two-and-one-half years. The impact of these and earlier transactions on our portfolio metrics was significant, reducing our fleet age to 6.2 years and increasing our average lease term to 6.7 years.  FLY continues to have ample resources to fund its growth strategy with more than $1 billion of unrestricted cash, available debt capacity and unencumbered assets providing more than $2 billion of purchasing power."

Goshawk successfully issues an unsecured USD95 million Schuldschein

Goshawk Aviation Limited has completed its debut unsecured USD95 million Schuldschein issuance. Goshawk is the first aircraft leasing company and the first Irish company to access the Schuldschein market, underlining Goshawk’s growing reputation as an innovator in the aircraft leasing space. The offer was launched at $75 million, the issue was significantly oversubscribed and was increased to $95 million to meet investor demand. The issuance consists of 3- and 5-year tranches and proceeds will be used for general corporate purposes. The issue was arranged by Commerzbank, Landesbank Hessen-Thüringen and NORD/LB.

Milestone Aviation Group Leases Sikorsky S-92 to Omni Táxi Aéreo to Support Petrobras' Brazilian Offshore Oil and Gas Operations

Milestone Aviation Group Limited announced on 16 November that it has leased a Sikorsky S-92 to Omni Táxi Aéreo S.A. to support Petrobras' offshore operations in Brazil. Milestone has provided the S-92 to Omni on a flexible one-year lease to support their operations. Omni has a short-term requirement for incremental heavy aircraft to serve its customers while uncertainty remains around their Airbus H225s' return to service timeline. This is the 12th aircraft that Milestone has leased to Omni.

SMBC Aviation Capital signs four aircraft deal with Jeju Air

SMBC Aviation Capital announced on 15 November that it has concluded a deal with Jeju Air for four Boeing 737-800 aircraft. This is the third portfolio deal that SMBC Aviation Capital has completed with Jeju Air over the past year and brings to eleven, the number of aircraft on lease to the airline. The first aircraft (MSN 35018) will deliver at the beginning of December with the additional three aircraft (MSN 37541, MSN 37540 and MSN 37543) expected to deliver before the end of March 2017.

Irish Aviation Research Institute © 21 November All Rights Reserved.

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