23 Aug 2021

Irish Aircraft Leasing Newsletter 23 August

AerCap Joins Aviation Coalition that Jointly Donates $400K to Support COVID-19 Vaccination in 92 Countries AerCap announced it joined Collins Aerospace, Pratt & Whitney, and SMBC Aviation Capital in a group effort to support equitable access to COVID-19 vaccinations in low-income countries via a collective $400,000 USD contribution to the Gavi COVAX Advanced Market commitment (COVAX AMC), the multilateral mechanism, that provides access to donor-funded vaccine doses to 92 lower-income economies. In addition, the Gavi Matching Fund will double the impact of this gift, resulting in $800,000 USD in support of global COVID-19 vaccine equity. AirAsia receives $56.83 million from merger between Fly Leasing and Carlyle Aviation Partners AirAsia Group Berhad announces it has received gross proceeds of $56.83 million (MYR 239.98 million) from the merger between Fly Leasing Limited (Fly Leasing) and Carlyle Aviation Partners. Prior to the completion of the merger between Fly Leasing and Carlyle Aviation Partners, AAGB held 3,333,333 shares of Fly Leasing, representing approximately 10.94% of common shares in the company. The Fly Leasing shares were acquired by AAGB on 30 August 2018 as part of a cash-in-kind consideration for the earlier divestment of AAGB’s aircrafts leasing operations undertaken by Asia Aviation Capital Limited to entities managed by BBAM Limited Partnership. CDB Aviation Executes $660 Million Portfolio Financing Backed by 13 Airbus and Boeing Aircraft CDB Aviation announced the company has entered into a facility agreement for the secured portfolio of thirteen Airbus and Boeing aircraft, valued at approximately $660 million. The transaction brings the lessor’s executed financings year-to-date to a total of US$2.53 billion. The first large-sized portfolio financing executed by the lessor since the onset of the COVID-19 pandemic is secured with a combination of Airbus A320-200 and A350-900 as well as Boeing 737 MAX 8 and 787-9 Dreamliner aircraft. “Diversifying financing sources at a competitive cost of capital is one of our key objectives,” underscored CDB Aviation Chief Financial Officer Brendan O'Neill, noting that the transaction demonstrates the strong and wide-ranging relationships the company has built over the years with members of the banking and capital markets communities. Castlelake Provides Financing to Turkish Airlines Castlelake announced it has provided a loan package to Turkish Airlines, secured by three new Boeing 737 MAX 8 aircraft and one new 737 MAX 9 aircraft. "We're pleased to be able to support Turkish Airlines, one of world's largest airlines, as it continues to enhance its fleet capabilities with advanced, efficient aircraft," said Armin Rothauser, Partner at Castlelake and head of the firm's lending strategy. "This financing is an example of the tailored solutions we are well positioned to provide to aircraft owners, enabling them to effectively achieve their fleet modernization goals. We look forward to continuing to support the airlines and the broader aviation ecosystem as the sector recovers." Fly Leasing Limited launches its $100 million tack-on senior notes offering Fly Leasing announced that it is commencing an offer, subject to market conditions, of an additional $100.0 million aggregate principal amount of its 7.000% Senior Notes due 2024. The Additional Notes will be fungible with the Company’s existing approximately $290.4 million aggregate principal amount of 7.000% Senior Notes due 2024 issued under the indenture, dated as of August 2, 2021, governing the Existing Notes, and will have the same terms as the Existing Notes (other than the initial offering price and the issue date). The Company intends to use the net proceeds from the offering for general corporate purposes. SMBC Aviation Capital delivers Airbus A321NEO to Aegean Airlines SMBC Aviation Capital announced the delivery of one (1) Airbus A321NEO aircraft (MSN 10305) equipped with two (2) PW1133G-JM engines to Aegean Airlines. Acumen Aviation © 23 August 2021 All Rights Reserved