27 Apr 2020

Irish Aircraft Leasing Newsletter 27 April

AerCap Holdings N.V. to Release First Quarter 2020 Financial Results on May 5, 2020 AerCap announced that it will host a webcast and conference call for investors and analysts on Tuesday, May 5, 2020 at 8:30 a.m. U.S. Eastern Time to review its first quarter 2020 financial results. CDB Leasing Axes Orders for 29 Boeing Max Jets China Development Bank (CDB) Financial Leasing said it had agreed with Boeing to cancel the purchase of 29 undelivered 737 MAX jets, the latest end user to cancel a contract for the grounded airplane. “In light of evolving aviation market dynamics, we’ve been working together with Boeing over many months to re-calibrate our MAX orderbook to be in line with our long-term view of the market and related opportunities,” Xuedong Wang, chairman of CDB Financial unit CDB Aviation, said in a statement. The lessor said it retained an order for another 70 of the planes that also have yet to be delivered. Fly Leasing to Report First Quarter 2020 Financial Results on May 8, 2020 Fly Leasing Limited announced that it will release its first quarter 2020 earnings results before the market opens on Friday, May 8, 2020. Gecas Cancels Orders for 69 Boeing Max Jets GE Capital Aviation Services (Gecas) has canceled orders for 69 Boeing 737 Max jets as part of a “mutually agreed to rebalance” of the lessor’s order book for the troubled narrowbody, the companies confirmed. Boeing still holds outstanding orders for 82 Max jets from Gecas, which maintains another 29 in its operating fleet. Irish Aircraft Leasing companies unite to provide €1million in funding to Covid-19 related initiatives Aircraft Leasing Ireland (ALI) has today announced that Irish aircraft leasing companies have come together to raise in excess of €1million in aid in recent days to support Covid-19 related initiatives. The support includes funding towards PPE for healthcare workers and for three charter flights all transporting PPE, which arrived last week from China, another which landed earlier in April, and plans underway for a further flight from another Asian jurisdiction, all facilitated by aircraft leasing companies.  Such is the response by the wider aircraft leasing community that additional funds raised are being channeled to a variety of other Irish charity partners to combat the effects of Covid-19. David Swan, Chair of ALI said “I am very proud of how the leasing community, through ALI, has stepped up and responded to meet the current needs of healthcare workers and charity partners alike.  As an industry, we are aware of our responsibility to give back to those that most in need in our community. We are very proud to play our part in these initiatives.” Irish aircraft lessor Aercap could be offered shares in Norwegian Airlines Irish aircraft lessor Aercap could be offered shares in Norwegian Airlines under the airline’s plans to swap its debts for equity in the business. Aercap has leased 11 aircraft to Norwegian reported Irish Times 17 April. Acumen Aviation © 27 April 2020 All Rights Reserved.