08 Jul 2024

Genesis announces Airbus A321-200 transaction

Avolon Raises $750 Million

Avolon announced it has raised $750 million in a new unsecured credit facility with a syndicate of seven banks predominantly in the Middle East and India. The transaction further diversifies Avolon’s sources of capital, accessing new liquidity pools with significant appetite for high quality lending opportunities in the aviation sector. This transaction means Avolon has raised over $3.4 billion in 2024 from a diverse range of funding sources in the public and private markets. Avolon CFO Ross O’Connor, stated “This $750 million facility further diversifies our access to capital and forges new banking relationships in the Middle East and India. Deepening our sources of liquidity ensures we can continue to capitalise on attractive market dynamics and we appreciate the support of JP Morgan, Emirates NBD and the wider bank syndicate.”

Genesis announces Airbus A321-200 transaction

Genesis announced further expansion of their aircraft lease portfolio with the acquisition of one Airbus A321-200 aircraft from trading partner Avolon on lease to Privilege Style. Genesis CEO Karl Griffin stated “Genesis is delighted to welcome Privilege Style as a new customer, and we look forward to expanding this relationship in the future.  We believe that in a market with structural constraints that are limiting the supply of aircraft, the A321-200 is well positioned to deliver airlines a long-term advantage on narrow body routes due to superior seat capacity and range.”

Milestone Signs Purchase Assignment and Leaseback Agreements with NHV

The Milestone Aviation Group that it has signed purchase assignment and leaseback agreements for four Airbus H175 helicopters and one Leonardo AW169 with leading helicopter service provider NHV Group. Milestone CEO Pat Sheedy, said “We are delighted to expand our relationship with NHV, supporting their ongoing fleet requirements. The offshore market has already begun the transition to new technology aircraft with the introduction of Super Medium helicopters in most oil and gas regions around the world. However, given the fragile balance between supply and demand, maintaining discipline will be key to achieving a sustainable market environment for all participants. Milestone has continued to invest in the most modern fuel-efficient technology and boasts the largest fleet of Heavy and Super Medium aircraft, meaning we are ideally positioned to support our customers’ strategic fleet decisions through the financing of new and used aircraft."
 

Image Credit: Mertbiol via Creative Commons

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