05 Jan 2025
#1 Jan 2025: Irish Aircraft Leasing Newsletter
Aloula Aviation Leases Two Boeing 737-800s from AerCap
AerCap has announced lease agreements for two Boeing 737-800 aircraft with Aloula Aviation, a subsidiary of Aramco, marking a significant milestone for both companies. These aircraft will support the transportation of Aramco Group passengers within Saudi Arabia.
AerCap CEO Aengus Kelly highlighted the expanded relationship with Aramco, transitioning from leasing helicopters to passenger aircraft, and expressed pride in supporting Aloula’s first direct lease for passenger operations. This agreement reflects the synergies between AerCap’s diversified business lines and their commitment to fostering aviation growth in the Kingdom of Saudi Arabia.
ORIX Aviation Announces Management Changes
Following a board meeting, ORIX Corporation implemented organisational reforms and announced key appointments. Effective 1 January 2025, James Meyler has been promoted to Group Executive of ORIX Corporation, Japan, in addition to his current role as CEO of ORIX Aviation Group. Additionally, John O’Donoghue will become General Counsel on 1 April 2025, succeeding outgoing General Counsel Helfried Schwarz.
CEO James Meyler expressed gratitude for Schwarz’s contributions over the past four years and welcomed O’Donoghue to his new role, acknowledging his invaluable input as a member of ORIX Aviation’s management team. These changes underscore ORIX Aviation’s commitment to strong leadership and forward-focused growth.
SMBC Aviation Capital Delivers First Airbus A321LR to Icelandair
SMBC Aviation Capital has delivered its first Airbus A321neo LR (MSN 12213) to Icelandair. It is powered by two IAE PW1133G-JM engines. This aircraft is the first of three scheduled for delivery before the summer of 2025, and two additional deliveries are planned for 2026.
This marks a landmark moment as the first Airbus aircraft has been delivered to Icelandair. Barry Flannery, SMBC Aviation Capital’s Chief Commercial Officer, praised the collaboration between Icelandair and Airbus and highlighted the importance of this milestone in strengthening their partnership for years to come.
Acumen’s Take
On Aloula Aviation and AerCap Partnership
The leasing of two Boeing 737-800 aircraft to Aloula Aviation signifies a growing trend of expanding domestic aviation capabilities in Saudi Arabia. Acumen Aviation views this as a strategic move that aligns with the Kingdom’s Vision 2030, promoting infrastructure development and economic diversification. Leveraging such partnerships will enable operators like Aloula to strengthen connectivity while optimising passenger experiences.
On ORIX Aviation’s Management Changes
ORIX Aviation's leadership transitions reflect the company’s proactive approach to sustaining long-term growth. By appointing John O’Donoghue as General Counsel and expanding James Meyler’s responsibilities, ORIX is poised to effectively navigate evolving industry challenges. Acumen believes these changes will enhance ORIX’s ability to deliver innovative solutions while maintaining its strong market position.
On SMBC Aviation Capital and Icelandair Collaboration
The delivery of the Airbus A321neo LR to Icelandair is a transformative milestone for both SMBC Aviation Capital and Icelandair. This introduction not only modernises Icelandair’s fleet but also positions them competitively for expanded routes and operational efficiency. Acumen sees this as a testament to the importance of fleet diversification and strategic partnerships in today’s dynamic aviation market.
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