22 Nov 2021

Irish Aircraft Leasing Newsletter 22 November

ACIA Aero Leasing Signs LOI with Universal Hydrogen for Up to 30 Regional Aircraft Conversions to Hydrogen Power Universal Hydrogen announced it has signed a letter of intent (LOI) with ACIA Aero Leasing (ACIA). ACIA expects to place 10 firm orders for Universal Hydrogen’s ATR 72 conversion kits with additional purchase rights for 20 more conversion kits of various turboprop types. ACIA CEO Mick Mooney said “Our lessees are actively looking for ways to decrease overall costs and reduce their carbon footprint. Decarbonizing our fleet encourages customers and competitors to follow our lead in advancing the development of carbon-free solutions. Collaborating with Universal Hydrogen will have a lasting impact on the environment encouraging our customers and the communities they touch, to increase efforts towards environmental sustainability.” AEI receives order from Aircastle for four AEI B737-800SF freighter conversions Aeronautical Engineers, Inc. (AEI) announced Aircastle Limited (Aircastle) has placed an order for four AEI B737-800SF freighter conversions. This is the first order received by AEI from Aircastle for the B737-800SF freighter conversion. All four aircraft will be modified by the authorized AEI Conversion Center, KF Aerospace based in Canada. The first aircraft will commence modification in July 2022, and the final aircraft will commence modification in March 2023. Falko adds five (5) next-generation E195-E2 aircraft to its portfolio in a sale and leaseback transaction with Porter Falko Regional Aircraft that it will add five (5) Embraer E195-E2 aircraft to its portfolio. The aircraft will be acquired in a sale and leaseback transaction with Porter Aircraft Leasing Corp., a wholly-owned subsidiary of Porter Aviation Holdings Inc., (Porter) and delivered in 2022. Falko is also providing pre-delivery finance to Porter. Castlelake Completes Sale-leaseback and Financing with Avianca Castlelake announced the completion of the sale and leaseback of six Airbus A330-200 freight aircraft to Avianca with a 10-year lease term. "We are pleased to build on Castlelake's existing relationship with Avianca to provide tailored capital solutions that help meet the growing demand for e-commerce in Latin America," said Joe McConnell, Partner and Portfolio Manager at Castlelake, L.P. "As global airlines return their focus to growth, we look forward to leveraging our platform and extensive experience investing in, and operating, aviation assets to support their goals." Macquarie AirFinance announces change in leadership Macquarie announced that John Willingham, Chief Executive Officer, will retire in January 2022 and will be succeeded by Eamonn Bane. Macquarie AirFinance Chairman Stephen Cook said “As a result of John’s leadership, Macquarie AirFinance has a team of professionals that is second to none and a business that is poised to emerge strongly from the COVID-19 pandemic. It is a testament to John’s commitment to leadership development and his ability to create a collaborative culture that we are promoting his successor from within the company.” VAH Leases Two Airbus A330-200 Aircraft to Italy’s New Airline, ITA Voyager Aviation Holdings, LLC (VAH) announced that it has closed a transaction with Italy’s new national airline and flag carrier, Italia Trasporto Aereo (ITA), for the lease of two (2) Airbus A330-200 aircraft. “We are excited to be a part of this next chapter of Italy’s airline industry through this lease agreement with ITA,” said Mike Lungariello, President and CEO of VAH. “We wish the best of luck to ITA, its global Employees, and its Management team as they move forward.” Acumen Aviation © 22 November 2021 All Rights Reserved