14 May 2018

Irish Aircraft Leasing Newsletter 14 May

AerCap Holdings N.V. Reports Financial Results for the First Quarter 2018 and Announces New Share Repurchase Program Aengus Kelly, CEO of AerCap, commented: “I am pleased to report that the AerCap platform delivered another quarter of strong operating and financial results, with earnings per share of $1.72 and net income of $265 million. Our high level of lease placement activity reflected robust demand for our aircraft, and we continued to deploy excess capital to create value for our shareholders.” The AerCap Board of Directors approved a new share repurchase program authorizing total repurchases of up to $200 million of AerCap ordinary shares through September 30, 2018. Aircastle commits to acquire its first A320neos During the 1Q 2018, Aircastle committed to acquire its first A320neos. The deal is for eight NEOs, six of which are expected to deliver in 2H 2018 with two additional aircraft during 1H 2019. The aircraft will be acquired via sale and leaseback with a single undisclosed airline. Aircraft leasing company NAC to create 300 jobs in Limerick According to a report in Irish Examiner Friday 4 May Nordic Aviation Capital (NAC) is set to open a facility in a new €18m office development. The world’s largest regional aircraft leasing company is to take three floors of the Gardens International offices in Limerick’s Henry St creating 300 jobs. Avolon Extends US$4.75 billion Term Loan B Facility to 2025 and Reduces Margin to 200bps Avolon announced 9 May the re-pricing and extension of its senior secured US$4.75 billion Term Loan B facility. The Facility has now been extended from an original maturity of April 2022 to January 2025 and has been repriced at LIBOR plus 2.00% with a LIBOR floor of 0.75%, subject to an Original Issue Discount (OID) of 99.75. In conjunction with this repricing Avolon repaid US$214 million of the original facility, bringing the outstanding balance to $4.75 billion. Fly Leasing Limited (FLY) CEO Colm Barrington on Q1 2018 Results - Earnings Call Transcript Read more: https://seekingalpha.com/article/4169590-fly-leasing-limited-fly-ceo-colm-barrington-q1-2018-results-earnings-call-transcript Fly Leasing Reports First Quarter 2018 Financial Results FLY’s CEO Colm Barrington said “FLY is reporting a solid first quarter based on a substantial increase in operating lease rental revenue. Our quarterly net income of $9.6 million – despite minimal end of lease income and no benefit from aircraft sales – represents the strong growth in our core leasing business. Our earnings of $0.34 per share are more than double the result from the same quarter last year.” Adding “The acquisition that we announced on February 28th is proceeding as planned, with AirAsia’s extraordinary general meeting scheduled for later this month. We expect that the initial stage of the transaction will be completed in the second and third quarters of this year. As we acquire these aircraft and deploy our capital over the course of the year, we expect to see FLY generate strong shareholder returns.” Acumen Aviation © 14 May All Rights Reserved.