19 Jun 2023

Irish Aircraft Leasing Newsletter

Avolon Announces Extends Term Loan B Facility

Avolon announces the extension of the TLB-3 tranche of its senior secured US$2.92 billion Term Loan B facility. The TLB-3 tranche has been extended from January 2025 to June 2028 through a new TLB-6 tranche and upsized by US$250 million, bringing the total size to $1.68 billion. Avolon CFO Ross O’Connor, said “We are very pleased to have successfully upsized our term loan facility and to have extended its maturity to 2028. The upsizing of the transaction reflects strong demand from both existing and new investors, reflective of the quality of our portfolio and the strength of our business. Together with our recent $750 million unsecured notes issuance, we have raised over $2.4 billion of capital in the second quarter to date, which will support our growth against a backdrop of increasing demand for aircraft from airlines.”

Azorra leases Embraer E195-E2s to SKS Airways

Azorra announced that it has signed lease agreements for ten new Embraer E195-E2 a with Kuala Lumpur based SKS Airways, deliveries commence in early 2024. Azorra CEO John Evans, said “We are pleased to partner with SKS Airways on this unique opportunity to be a part of the future expansion of Subang Airport. We believe Embraer’s new technology E2 is the perfect fit for a redeveloped, premier aviation hub near the heart of Kuala Lumpur, reducing travel times and improving connectivity in the region. The E2’s fuel efficiency, carbon footprint and low noise emissions offer a transformative, environmentally conscious jet solution for the city, the region, and its residents.”

Nordic Aviation Capital (NAC) acquires Boeing 737NG’s  

Nordic Aviation Capital announced it has closed the purchase of three Boeing 737-800 aircraft from an undisclosed lessor, two are leased to American Airlines and one is leased to Transavia France. 

Vmo Aircraft Leasing appoints Dawne S. Hickton to board

Vmo Aircraft Leasing announced the appointment of Dawne S. Hickton as an independent member of the Board of Directors. Vmo Aircraft Leasing Executive Chairman Robert Brown said “We’re thrilled to be welcoming Dawne to our expanding Vmo Board. Dawne’s significant public and private board experience along with her leadership in the aerospace, defense and space industries will add immediate value to our focus on attaining sustainable growth and unlocking the intrinsic value of our platform for our stakeholders.”

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