10 Oct 2022

Irish Aircraft Leasing Newsletter

Griffin Global Asset Management and Viva Aerobus conclude sale and leaseback of two Airbus A321neo aircraft.

Mexican low-cost carrier Viva Aerobus, Griffin Global Asset Management announced the acquisition and leaseback of two Airbus A321neo aircraft delivered in September. Michael Lombardi, Vice President of Marketing at Griffin Global Asset Management, stated, "We are thrilled to assist Viva Aerobus' expansion by financing these two new A321neos. These planes will aid Viva in expanding their route network as they continue to provide a top-tier offering in the Mexican market.”

Karl Ryan is appointed vice president of marketing by Azorra

Azorra has appointed Kay Ryan as Vice President of Marketing, with responsibilities for overseeing major airline connections internationally, business dealings, and order book placements.

SMBC Aviation Capital launches sector-leading sustainability solution for airlines

For its airline clients, SMBC Aviation Capital unveiled a sustainability initiative that includes an initial $53.3 million investment in top-notch carbon credit programs that support the Sustainable Development Goals of the United Nations (SDGs). The credits are based on energy-efficient cookstove projects that Gold Standard and Verra have approved throughout Africa, Asia, and the Americas. These initiatives also support a number of the Sustainable Development Goals set forward by the UN, such as gender equality, good health, and climate action. Additionally, a portion of the investment will assist regional community projects in LDCs like irrigation plans and chances for women to access microloans. SMBC Aviation Capital CEO Peter Barrett said “SMBC Aviation Capital is committed to playing a leading role in helping our customers achieve their sustainability targets. We have worked to understand how we can be a significant driver of the airline industry’s transition to net zero, with today’s announcement being our first initiative ahead of developing further solutions for airlines.”

Novus Aviation Capital sells 777-300ER to investors in acquisition managed by ORIX Aviation

A Boeing 777-300ER under lease to British Airways was sold to investors by Novus Aviation Capital; ORIX Aviation managed the transactionl. James Meyler, CEO of Orix Aviation, stated, "We are pleased to have successfully managed the acquisition of this aircraft, providing yet another illustration of ORIX's commitment to its investors. This sale strengthens our ties to ORIX Aviation's stalwart clients Novus and British Airways, where the aircraft will continue to be leased.

To support continued portfolio growth, TrueNoord secures $400 million funding facility 

A new $400 million revolving warehouse credit facility, which TrueNoord stated it had closed, would be seeded with 17 of the company's existing aircraft with scope for future growth. The facility will be utilized by the specialized regional aircraft lessor to fund business expansion and increase its portfolio of 50-150 seat aircraft, which comprises jets and turboprops from Embraer, ATR, Airbus, MHI-RJ, and De Havilland. TrueNoord CEO Anne-Bart Tieleman stated “This new revolving warehouse facility will finance TrueNoord’s regional aircraft acquisitions going forward. It will give us the funding to react quickly on market opportunities and build up a portfolio of new and used aircraft on a flexible basis for our customers.  These four banks further augment the strong group of financiers and investors that are supporting TrueNoord’s dynamic growth trajectory.”
 

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