10 Feb 2020

Irish Aircraft Leasing Newsletter 10 February

Aergo Capital announces the acquisition of one (1) Airbus A321 aircraft Aergo Capital has completed the acquisition of one (1) 2012 Vintage Airbus A321-200 aircraft bearing manufacturers serial number 5271 from AviaAM Leasing. The aircraft was sold subject to the existing operating lease with Bamboo Airways. Fred Browne, Chief Executive Officer of Aergo, commented “This acquisition is another step towards implementing Aergo’s strategy and supports the growth and diversification of our portfolio. We look forward to developing our partnership with Bamboo Airways.” CDB Aviation Completes Delivery of Four E190s to Amaszonas CDB Aviation announced the delivery of the fourth, final Embraer E190-100LR aircraft to Bolivian customer Amaszonas. The aircraft was received by the carrier in Guangzhou, China, completing the transaction signed with the lessor in October 2019. The Embraer regional jets, configured with 110 seats in a single class layout, are being incorporated into the Amaszonas fleet as part of the carrier’s next phase of modernization. “These first generation E190 jets will provide the needed additional capacity to enhance the carrier’s existing flight operations in Bolivia, while supporting the execution of its strategy focused on growing markets,” according to Luis Da Silva, CDB Aviation Head of Commercial, Americas. CDB Aviation Completes Delivery of Six Airbus Aircraft to TAP CDB Aviation announced the delivery of the sixth, final Airbus aircraft to TAP Air Portugal. TAP took delivery of an Airbus A321neo aircraft in Hamburg this week, the last of a fleet of six Airbus aircraft on lease from CDB Aviation. The delivery marks the completion of the transaction with the lessor involving four A321neos and two A330neos which was announced in December 2018. SMBC Aviation Capital closes USD600 million syndicated financing SMBC Aviation Capital announced that it has closed a $600 million syndicated financing transaction comprising a USD200 million term loan and a $400 million revolving credit facility with a consortium of Asian-Pacific and European banks. The transaction generated strong interest from the banking market resulting in attractive terms reflecting SMBC Aviation Capital’s status as one of the industry’s highest rated, Investment Grade aircraft lessors. Barry Flannery, Chief Financial Officer of SMBC Aviation Capital, said “The level of interest in this transaction further demonstrates the market’s confidence in our business and our commitment to diversifying our funding sources. We are pleased to broaden our relationships with some of the leading banks in the Asian Pacific and European markets. Together with our corporate bond programme and ongoing shareholder support, this will underpin the delivery of our future growth with $6.5bn of liquidity currently available to the business”. Smith, Gambrell & Russell Client Spirit Airlines Completes the Final of Six Airbus Aircraft Deliveries from Jackson Square Aviation Smith, Gambrell & Russell, LLP (SGR) announced that firm client, Spirit Airlines (Spirit), has closed on the sale and leaseback of the final of six new Airbus A320NEO aircraft with Jackson Square Aviation, a full service commercial aircraft lessor. SGR served as legal counsel to Spirit in the transactions, the first which closed in September 2019 and the sixth in December 2019. Acumen Aviation © 10 February 2020 All Rights Reserved.