25 Nov 2019

Irish Aircraft Leasing Newsletter 25 November

AerCap and Egyptair Reach Agreement on the Conversion of 7 Previously Executed Leases for Airbus neo Aircraft AerCap announced they have signed documents converting seven leases for Airbus A320neos into leases for seven Airbus A321neos. The announcement was made during the 2019 Dubai Airshow in the presence of EGYPTAIR Holding Company Chairman & CEO Captain Ahmed Adel, EGYPTAIR Airlines Chairman & CEO Captain Ashraf Elkhouly, AerCap CEO Aengus Kelly and AerCap President & Chief Commercial Officer Philip Scruggs. AerCap is the world's largest Airbus A320neo Family lessor, with 270 owned and on order. AerCap and Egyptair Reach Agreement on the Leasing of 2 Additional Boeing 787-9 Aircraft AerCap and Egyptair announced they have executed long-term operating leases for two Boeing 787-9 aircraft. The aircraft are from AerCap's order book with Boeing and the first unit is scheduled to deliver in 2021 with the second unit delivering in 2022. AerCap is the world's largest customer of the 787 aircraft, with a total of 117 owned and on order. CDB Aviation Begins Deliveries of Six A330neo Aircraft to New Airline Customer Garuda Indonesia CDB Aviation announced the delivery of the first of six Airbus A330-900neo aircraft as part of a sale and leaseback transaction and on long-term lease to a new customer in Asia Pacific, the flag carrier of Indonesia, Garuda. The fleet of six A330neo widebody airliners, equipped with latest generation Rolls-Royce Trent 7000 engines and configured in a two-class cabin layout with 24 seats in business and 277 seats in economy, will support the company’s growth and business expansion in the future. The fleet of six A330neo widebody airliners, equipped with latest generation Rolls-Royce Trent 7000 engines and configured in a two-class cabin layout with 24 seats in business and 277 seats in economy, will support the company’s growth and business expansion in the future. GECAS Expands SalamAir’s Fleet with Two New A321neos SalamAir and GECAS have entered into a lease agreement for two Airbus A321neo to enter service with Oman’s first low-cost carrier. The aircraft are from GECAS’ new order skyline and are outfit with the latest technology CFM LEAP engines. SalamAir will be among the first to operate the A321neo in the Middle East. GECAS Places Orders for 32 Airbus Aircraft GECAS has entered into an agreement to purchase twenty A321XLR and twelve A330-900 aircraft from Airbus, with all 32 aircraft slated for delivery prior to the end of 2026. “We’re delighted to be among the select lessors for the LEAP-powered A321XLR, which offers significant fuel efficiency and greater range,” explains Greg Conlon, GECAS President and CEO. “In addition to the commonality benefits, the XLR provides our opportunistic airline customers the ability to open long, thin routes to secondary cities.” GOAL sells three Embraer E190-100LR aircraft to TrueNoord GOAL German Operating Aircraft Leasing GmbH & Co. KG announced it sold three Embraer E190-100LR aircraft, with leases attached, to TrueNoord. All three aircraft are currently leased to Finnair Aircraft Finance Oy. NAC has purchased and immediately leased back one ATR 42-500 to Compagnie Aérienne Inter Régionale Express Nordic Aviation Capital (NAC) announced that it has purchased and immediately leased back one ATR 42-500, MSN 831, to Compagnie Aérienne Inter Régionale Express. TrueNoord leases three Embraer E190s to Finnair TrueNoord, has leased three Embraer E190s to Finnair. These aircraft have been purchased with leases attached from GOAL Aircraft Leasing and they are being sub-leased and operated by Nordic Regional Airlines (NoRRA). The transaction financing was provided under TrueNoord’s term loan warehouse facility supported by Morgan Stanley, NORD/LB Norddeutsche Landesbank, Barclays and ABSA Bank. Hogan Lovells advised TrueNoord on the transaction and Dentons supported GOAL. Acumen Aviation © 25 November 2019 All Rights Reserved.