14 Feb 2022

Irish Aircraft Leasing Newsletter 14 February

BBAM Raises $1.5 Billion for Second Aviation Fund BBAM Limited Partnership (BBAM)  announced that it has closed its latest flagship aircraft leasing fund, Incline Aviation II, with total capital commitments of approximately $1.5 billion. Incline Aviation II has deployed approximately $318.0 million of equity commitments across 31 aircraft investments as of December 31, 2021. BBAM CEO & President Steve Zissis stated “We appreciate the strong backing from existing and new investors that made our second Incline Aviation fund closing a huge success. "We have been actively investing and are excited about the opportunity to generate attractive returns for our investors while partnering with our airline clients globally." Montrose Expands Its Operations In Central America Montrose Global announced that it has entered into a long-term operating lease agreement with Costa Rica Green Airways for one Cessna 208B Grand Caravan EX. The aircraft will be based in San Jose, Costa Rica and will be operating both scheduled domestic and charter flights to destinations such as Tambor and Quepos. ORIX Aviation Announces New Office In Dubai And Changes To The Board Of Directors ORIX Aviation announced that has established a new office in Dubai, situated in the DIFC. ORIX Aviation Group CEO James Meyler stated “with direct flights from Dubai to over 100 countries and 250 cities, Dubai is very well positioned to enable us to service our clients globally and remain in close contact to our shareholder in Japan. The opening of the Dubai office is in response to the continued growth and success of ORIX Aviation’s business.” Chief Commercial Officer of ORIX Aviation Paul O’Dwyer, has relocated from Dublin to Dubai and will play a key role in the development of the new office. SMBC Aviation Capital delivers Boeing 737-8 MAX to FlyDubai SMBC Aviation Capital announced the delivery of one (1) Boeing 737-8 MAX aircraft (MSN 60973) equipped with two (2) CFM LEAP-1B28 engines to FlyDubai. The Aircraft is the final of seven (7) Boeing 737-8 MAX units to be delivered to FlyDubai as part of a sale and lease back transaction with the airline. Vmo Aircraft Leasing Announces Closing of $600 Million Warehouse Credit Facility Vmo Aircraft Leasing announced the closing of a five-year senior secured warehouse facility with an initial committed amount of $600 million.Credit Suisse Securities (USA) LLC and Natixis Corporate and Investment Bank acted as co-structuring agents and joint lead arrangers. The initial syndicate of lenders also includes Wells Fargo Bank, MUFG, and Credit Agricole. Vmo’s Senior Vice President and Head of Capital Markets Meghan O'Connor stated “We are very pleased to have received sizable commitments from a diverse group of leading aviation lenders in our inaugural transaction. This warehouse facility provides us with the capacity and flexibility to support airline customers as we execute on our rapid growth strategy to become a leader in the aircraft leasing sector.” Acumen Aviation © 14 February 2022 All Rights Reserved