22 Sep 2024
Azorra Delivers Airbus A220-300 To Cyprus Airways
Avolon to Acquire Portfolio of 118 Aircraft
Avolon announced an agreement to acquire Castlelake Aviation Limited , an entity managed by Castlelake L.P., the global alternative investment manager. The$5.0 billion portfolio includes 105 aircraft on lease, commitments for 13 new-technology aircraft, 2 engines on lease, and 9 loans. Avolon stated the transaction will accelerate Avolon’s earnings growth, building its fleet at attractive yields. Avolon CEO Andy Cronin, commented “This transaction accelerates our growth plans adding a portfolio of assets that will further strengthen our cashflow and earnings profile. Our balance sheet strength, high levels of liquidity, and established capital markets access have enabled us to acquire these assets. They are complementary to our existing portfolio and will increase our fleet at attractive yields, supporting our positive ratings trajectory.”
Azorra Delivers Airbus A220-300 To Cyprus Airways
Azorra announced the delivery of one Airbus A220-300 to Cyprus Airways, marking a new partnership for the lessor. The aircraft was formerly operated by Egyptair. Azorra CEO and Founder John Evans, stated “We’re proud to welcome Cyprus Airways as an Azorra customer. The delivery of this A220, featuring freshly overhauled and updated engines from Pratt & Whitney, will complement the airline’s existing Airbus fleet. The A220 offers exceptional fuel efficiency, cost savings, and passenger comfort. We thank Cyprus Airways for their trust in Azorra and look forward to a lasting, mutually successful partnership.”
Genesis adds BayernLB as co-lender
Dublin based aircraft lessor Genesis announced that BayernLB have joined their $450 million warehouse facility as a co-lender. The facility was led by Citibank, N.A., with BayernLB joining Morgan Stanley & Co., LLC and Bank of America as co-lenders. Genesis CFO Adam Smyth stated, "I am delighted to announce the addition of BayernLB as a co-lender to our warehouse facility. I am grateful for the continued support of Citibank, Morgan Stanley and Bank of America, and I am pleased to welcome BayernLB. Genesis are happy to diversify our lender base and we look forward to continuing our relationship with BayernLB in the future. We are also extremely pleased that the finance community continues to see strength and growth in the Genesis platform as well as the global aviation industry. “
Stratos delivers Airbus A330-200 to Iberia (LEVEL)
Stratos announced the delivery of an Airbus A330-200 on long term operating lease to Iberia. The aircraft (MSN 1319) the aircraft will be deployed on operations for Level. Stratos Marketing Director Camille Pousseur, said “This aircraft has been a real challenge for our technical team and has proven once again Stratos’ ability to handle extremely complex projects and achieve profitable outcomes for our clients (investors and airlines). We are delighted to welcome Iberia as a new airline partner”.
Image Credit: Romain COUPY via Creative Commons
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