26 Oct 2021

Irish Aircraft Leasing Newsletter 26 October

Libra Group Acquires KKR’s Interest In LCI LCI announced that its parent company, the Libra Group, has acquired the minority interest in LCI Helicopters held by global investment firm KKR. LCI CEO Jaspal Jandu, stated “We would like to thank the KKR team for their exemplary support these last seven years, helping LCI grow across sectors including offshore wind power and search and rescue. We are equally delighted that Libra Group has returned to principal ownership. It has always been a valued and supportive parent given its experience in building asset intensive, transportation businesses, particularly in the aviation space.” SMBC Aviation Capital announces lease agreements for 20 A320neo aircraft with Spirit Airlines SMBC Aviation Capital announced that it has concluded a lease agreement for twenty (20) Airbus A320neo aircraft with Spirit Airlines. The agreement with Spirit Airlines consists of the sale and leaseback of fourteen (14) A320neo aircraft, to be delivered from November 2021 through September 2022, in addition to six (6) direct A320neo lease placements from SMBC Aviation Capital’s orderbook. These will be delivered to Spirit from September 2022 through February 2023. Chief Commercial Officer, SMBC Aviation Capital Barry Flannery said: “We are delighted to sign these lease agreements with Spirit, continuing our strong partnership with the airline. The delivery of twenty of the newest generation, fuel efficient A320neo aircraft will help Spirit deliver on its strategy to grow capacity whilst meeting its sustainability goals. This transaction reaffirms how there is continued demand for SMBC Aviation Capital’s young, fuel efficient narrow body aircraft, and how our business continues to offer innovative and flexible financing solutions to customers as the aviation industry recovers from the pandemic.” Stratos Invests in Universal Hydrogen Stratos announced its investment in Universal Hydrogen Co., the company leading the fight to decarbonise aviation through the adoption of hydrogen as a universal fuel. The investment is part of a funding round recently closed by Universal Hydrogen and was made via Stratos BeYoke Hydrogen fund I, along with a Japan-based financial partner. Stratos CEO Gary Fitzgerald said "Decarbonisation is an enormous challenge for our industry, not least because of the high energy needed to rapidly transport many people over long distances. With our growing team of technical and ESG specialists we have sifted through several developments – including electric/battery, hybrid, sustainable fuels - and have decided that hydrogen is one of the cleanest and most promising ways forward to help our industry meet climate targets. With their hugely experienced team, we are delighted to be investors in Universal Hydrogen and intend to build on our partnership by bringing innovative equipment financing solutions to help turn the dream of zero carbon flight into reality. VAH Leases Two Airbus A330-300 Aircraft to iFly Airlines Voyager Aviation Holdings, LLC (VAH) announced that it has come to an agreement with a new customer, iFly Airlines, who are a well-known Russian airline, for the long-term lease of two (2) Airbus A330-300 aircraft. The aircraft are expected to be delivered in September 2022 and March 2023 and will go directly into flight service with iFly without the need for any re-configuration. “We’re pleased to welcome iFly as a new customer and provide them with the aircraft they need to grow their business. These long-term agreements are further evidence of the versatility and resilience of the A330 asset type,” said Mike Lungariello, President and CEO of VAH. “This is an exciting partnership for VAH as we work to be a leading provider of aircraft and capital solutions to the aviation industry.” Acumen Aviation © 26 October 2021 All Rights Reserved