16 May 2023

Irish Aircraft Leasing Newsletter

Avolon's Latest Move: Securing $750 Million Through Senior Unsecured Notes Offering

Avolon' announced, its wholly owned subsidiary, Avolon Holdings Funding Limited, priced a private offering for $750 million of 6.375% senior unsecured notes due in 2028. The notes will be fully and unconditionally guaranteed by Avolon and some of its subsidiaries The offering is expected to close on or before the announced date.

Falko Soars to New Heights with $388.2 Million Fund Closing for Regional Aircraft Opportunities

Falko Regional Aircraft announced it closed a $388.2m Term Loan financing in February 2023. The facility is secured by a portfolio of up to 41 aircraft owned by the Falko Regional Aircraft Opportunities Fund II. Citi, Deutsche Bank AG, London Branch & Goldman Sachs Bank USA acted as Co-Structuring Agents and Mandated Lead Arrangers. Allen & Overy acted as legal advisor to Falko with Milbank as legal advisor for the Lenders. UMB is the Managing Agent and Security Trustee.

Griffin Global's Bold Move: Acquires Two Boeing 737 MAX 8 Aircraft on Lease with Aeromexico

Griffin Global Asset Management announced the purchase of two Boeing 737 MAX 8 aircraft on long-term lease Aeromexico. The transactions were completed in March 2023. Griffin Global Asset Management  Vice President Marketing Michael Lombardi, said  "We are excited for this new partnership with Aeromexico and look forward to working alongside the Aeromexico team as they continue along their ambitious fleet renewal program over the coming years. These two aircraft form part of Aeromexico’s growing MAX fleet and its commitment to sustainable travel."

LCI and U.S. Public Pension Partner to Create Innovative Joint Venture

LCI announced it has launched a pioneering Joint Venture with a US Public Pension and plans to build an aviation and helicopter portfolio valued in excess of $300 million. The JV is the world’s first direct-to-pension fund investment partnership in the rotary market.  Its inaugural transaction is the acquisition of a portfolio of seven modern helicopters, manufactured by Airbus, Leonardo, and Sikorsky valued at over US$70 million.  The aircraft will predominantly operate in utility roles in Europe, the Americas and Africa. The UPP and LCI are co-investors in the vehicle, with LCI also acting as manager.

Volaris receives game-changing aircraft from CDB Aviation: A closer look at the new A321NX deliveries 

CDB Aviation announced  the delivery of the first of two A321neo aircraft fitted with Airbus’ Cabin Flex to its long-standing customer, Volaris. The delivery is part of the lease agreements signed with the airline in 2021, which forms part of the 13 total number of CDB Aviation aircraft on lease to Volaris. The carrier is expected to take delivery of the second A321NX by the end of 2023, with an additional three A321neos and two A320neos slated for delivery throughout 2023 and 2024.

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