04 Apr 2025
#1 April 2025: North American Aviation Newsletter
Air Lease Appoints Grant Newman as Treasurer
Air Lease Corporation (ALC) has appointed Grant Newman as Senior Vice President and Treasurer, effective 17 March 2025. With over 20 years of finance experience, including 15 years in aviation and aerospace, Newman most recently served as CFO at aerospace start-up Elroy Air. At Elroy, he led finance, supply chain, legal, and government affairs. ALC CFO Gregory B. Willis expressed confidence in Newman’s strong corporate finance background, marking a key leadership addition as the company continues to expand.
Avelo Airlines Launches 13 New Routes and 3 New Destinations
Avelo Airlines has announced a significant network expansion with 13 new routes and 3 new destinations, including Nassau (Bahamas), Grand Rapids (Michigan), and New York/Long Island. The airline will operate these routes using its Boeing 737 Next-Generation fleet. This expansion builds on Avelo’s strategy to offer affordable and flexible travel options across its growing network. CEO Andrew Levy noted that the new routes reflect Avelo’s mission to "Inspire Travel" and make flying more accessible.
Aviation Capital Group Delivers Final 737-9 MAX to United Airlines
Aviation Capital Group (ACG) has completed the delivery of a Boeing 737-9 MAX to United Airlines, concluding a seven-aircraft sale-leaseback agreement executed over an eight-month period. Equipped with CFM LEAP-1B engines, the aircraft represents United’s continued investment in fuel-efficient, next-generation fleets. ACG VP of Marketing Alan Mangels emphasised the shared commitment to environmental stewardship and operational excellence, reinforcing the leasing firm's strong relationship with the U.S. carrier.
BOC Aviation Orders 50 Boeing 737-8 Aircraft from Boeing
BOC Aviation has signed an agreement with Boeing to acquire 50 new Boeing 737-8 aircraft, with deliveries scheduled through 2031. The order includes conversion rights to other Boeing 737 variants. CEO Steven Townend noted that this is the largest Boeing order book position in BOC Aviation’s history, bringing its total commitments for the aircraft type to over 140 units. The order highlights the lessor’s strategy to support airline customers with technologically advanced, fuel-efficient aircraft.
Acumen’s Take
On Air Lease Corporation’s Appointment of Grant Newman
Grant Newman’s appointment signals Air Lease Corporation’s continued focus on strengthening its financial leadership amid a dynamic leasing environment. His diverse experience across start-ups and traditional aerospace finance will add strategic value as ALC continues to scale. Acumen sees this as a key hire that aligns with the company’s long-term growth objectives.
On Avelo Airlines’ Expansion
Avelo’s aggressive route expansion reflects rising demand for low-cost, point-to-point travel, especially to secondary and leisure-driven destinations. The airline’s growth into Nassau as its fourth international market underscores its increasing international ambitions, while domestic additions show a nimble and opportunistic route strategy. Acumen views Avelo as a fast-moving player capitalising on underserved markets.
On ACG’s Final Delivery to United Airlines
The completion of a seven-aircraft delivery in under eight months highlights ACG’s operational efficiency and responsiveness to airline needs. With airlines prioritising sustainability and fleet modernisation, the 737-9 MAX is a key asset. Acumen recognises this partnership as a model for successful long-term sale-leaseback strategies in the North American market.
On BOC Aviation’s Boeing 737-8 Order
BOC Aviation’s substantial order for 737-8s reflects strong confidence in the narrow-body leasing market, particularly for next-gen aircraft offering operational efficiency and low fuel burn. The inclusion of variant conversion rights adds flexibility, enabling the lessor to tailor offerings to client needs. Acumen sees this as a strategic move to maintain long-term competitiveness in single-aisle leasing.
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