26 Feb 2018

Irish Aircraft Leasing Newsletter 26 February

AerCap plans to hit debt market multiple times in 'heavy' year for capex Aircraft lessor AerCap expects to tap the debt market "a number of times" this year as it expects a "pretty heavy" year for capital expenditure. That's according to CFO Peter Juhas, who was speaking to analysts after the company posted net income of $1.1bn (€0.89bn) for 2017. The company valued at more than $8bn - sold 114 aircraft in 2017 and as of the year end had a total portfolio of more than 1,500 aircraft that it owned, managed, or had on order. ALAFCO and SMBC Aviation Capital conclude A350 transaction SMBC Aviation Capital announced 21 February that it has acquired a new Airbus A350-900 XWB (MSN 0185) from Kuwaiti based lessor, ALAFCO which has been delivered to Bangkok-based airline, Thai Airways. The three-way transaction was completed at the Airbus facility in Toulouse and is part of a two A350 aircraft deal, the second of which will be delivered to Thai Airways in March 2018. Both aircraft will be fitted with Rolls Royce Trent XWB-84 engines. Avolon’s revenue reaches US$2.4 billion in 2017 Avolon announced 22 February results for the 2017 full year. The year was headlined by the acquisition and integration of CIT’s aircraft leasing business. Avolon’s owned, managed and committed fleet grew 109% in 2017 to 908 aircraft by year-end and full year profit after tax increased 59% to US$550 million. Dómhnal Slattery, Avolon CEO, commented: “Avolon delivered a strong performance in 2017 in what was a transformative year for our business. We more than doubled revenue to US$2.4 billion and reported record net profit of US$550 million. As we look forward to 2018, we are confident in our business and our growth objectives. We are a stronger and more strategically relevant business than at any time in our history. We have the team, the balance sheet and the aircraft order book to deliver for our customers and all our stakeholders in 2018 and beyond.” SMBC Aviation Capital signs its most significant deal to date in India SMBC Aviation Capital announced 19 February that it has signed its most significant single deal to date in India with Jet Airways, India’s premier, full-service international airline. The transaction involves the sale and leaseback of 13 Boeing 737 MAX 8 aircraft with the first aircraft set to deliver in August 2018. The new aircraft will be powered by CFM International LEAP-1B engines. UIA received the first Being 777 aircraft from AerCap Ukraine and received the UR-GOA registration number. Boeing 777-200ER aircraft accommodates 361 passengers in three-class seating configuration, i.e. Business Class, Premium Economy Class, and Economy Class. UIA expects to operate the UR-GOA aircraft on its long-haul routes to New York, Beijing, and Bangkok. Leased from the world’s leading lessor AerCap, the aircraft is equipped with Panasonic Corporation individual IFE system. Every seat is equipped with personal screen with a vast content menu, including feature movies, music, and computer games. To promote Ukraine’s cinematograph, passengers of Boeing 777 will be offered a variety of Ukrainian movies. The content is available in four languages, i.e. Ukrainian, English, Chinese, and Russian. Acumen Aviation © 26 February All Rights Reserved.