02 Mar 2020

Irish Aircraft Leasing Newsletter 2 March

Aergo Capital delivers an Airbus A330-200 to Jordan Aviation Aergo Capital Limited has completed the delivery of one  Airbus A330-200 bearing manufacturers serial number 834 to Jordan Aviation. The aircraft, which is owned by an affiliate of METAL 2017-1, was previously on lease to Shaheen Air. Aergo Capital CEO Fred Browne said “The delivery of this aircraft to Jordan Aviation is evidence of Aergo’s commitment to supporting growth in this region,.” while Zuhair Al-Khashman, president and chief executive of & of Jordan Aviation, said the new aircraft, “enhances our fleet. It is the start of our re-equipment programme and the support from Aergo was of great assistance. We look forward to opportunity of working with them in the future” Avolon Announces Closing Of Us$620 Million Fixed Rate Notes By Sapphire 2020-1 Platform Avolon announced that Sapphire Aviation Finance II LLC and Sapphire Aviation Finance II Limited the newly established special purpose companies, closed a total of US$620 million of Fixed Rate Notes. The Notes are backed by a portfolio of 21 aircraft (the “Portfolio”), with an appraised value of $746.8 million, which will be acquired by SAPA 2020-1 from Avolon using the proceeds of the issuance. The Portfolio comprises a mix of 21 narrowbody and widebody aircraft that have a weighted average age of 7.5 years and are on lease to 19 lessees/airlines based in 18 countries. Avolon will act as servicer with respect to the Portfolio and any additional aircraft acquired by the Issuers. Avolon CEO Dómhnal Slattery said “This transaction follows the successful launch of our Sapphire vehicle in 2018 and we are particularly pleased with the yield for this issue, which is the lowest debt yield of any aircraft ABS issuance over the last decade. Investor demand for this issue reflects our standing in the capital markets and further builds on Avolon’s reputation as a leading ABS servicer.” Elix Aviation Capital Delivers a Bombardier Dash 8 Q200 to Safarilink Elix Aviation Capital announced 24^th February the delivery of one Bombardier Dash 8 Q200, MSN 510, on lease to Safarilink of Kenya. GECAS Appoints Jonty Nel as New Commercial Lead GECAS has appointed Jonty Nel executive vice president for its commercial  international arm, effective from  from April 2020. Nel will be responsible for building and executing GECAS’ commercial strategies across a number of regions, platforms and teams including Asia-Pacific, MAC, Europe & Canada, and Latin American & Caribbean regions, as well as the firm’s  cargo business and airline & fleet strategy team. Nordic Aviation Capital delivered one new ATR 72-600, MSN 1555, to Silver Airways on lease Nordic Aviation Capital (NAC) announced 24^th February the delivery of one new ATR 72-600 aircraft, MSN 1555, to Silver Airways on lease. Nordic Aviation Capital to be De Havilland Canada's First Customer for Classic Overhead Bin Extension on Dash 8-400 Aircraft De Havilland announced 25^th February that Nordic Aviation Capital will be the launch customer for the Classic Overhead Bin Extension Solution for the Dash 8-400 aircraft. Under this agreement, De Havilland Canada will be the exclusive supplier of all future Dash 8-400 aircraft classic bin extension modifications for Nordic Aviation Capital’s fleet. Nordic Aviation Capital Chief Operations Office Tom Turley said “Over the last few years we have seen an increase in customer carry-on bags as well as an expansion in bag sizes. Having a new configuration that is able to meet these needs is very exciting for us and our customers.” Acumen Aviation © 2 March 2020 All Rights Reserved.