11 Apr 2023

Irish Aircraft Leasing Newsletter

AerCap Completes Secondary Share Offering

AerCap announced the completion of the secondary public offering of 23,000,000 of its ordinary shares by GE Capital US Holdings, Inc, a wholly owned subsidiary of General Electric Company, at a price to the public of $58.50 per ordinary share. In connection with the offering, the Selling Shareholder also granted the underwriters a 30-day option to purchase up to an additional 3,450,000 ordinary shares from the Selling Shareholder. AerCap will not receive any proceeds from the offering.

Jackson Square Aviation Executive Leadership Changes

Jackson Square Aviation has announced the addition of three new members to its Executive team, and the transition of one Executive to the newly created role of Chief Operating and Legal Officer. Daniel Cavanagh has been promoted to Executive Vce President, Chief Risk Officer and Gemma Loder has been promoted to Executive Vice President, Head of Capital Markets. Sruti Prakash has been promoted to Executive Vice President and General Counsel, with Sruti Prakash’s promotion to General Counsel, Ryan Opeka is transitioning to the newly-created position of Chief Operating and Legal Officer.

Nordic Aviation Capital concludes Icelandair Dash 8-400 Sale

Nordic Aviation Capital announced it has concluded a sale agreement for one DHC 8-400 with Icelandair.

Southwest Airlines and SMBC Aviation Capital agreement on sustainability initiatives

SMBC Aviation announced that Southwest Airlines has agreed to purchase over 400,000 carbon credits from its portfolio of projects. The agreement will result in the carrier acquiring carbon credits certified by either Gold Standard or Verra over a five-year timeframe from SMBC Aviation Capital’s funded projects in Africa and Central America. SMBC Aviation Capital, Chief Operations & Sustainability Officer David Swan said “Southwest continues to make sustainability a priority and we are delighted to partner with them as the first customer of our newly-established carbon credit programme.  This announcement supports our objective of working with our airline customers to accelerate their path to environmental sustainability.  We believe that by taking tangible actions and working together we can make positive change, especially in a hard-to-abate sector like aviation.” 

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