03 Dec 2018

Irish Aircraft Leasing Newsletter 3 December

Avolon Celebrates the world’s first Airbus A330NEO delivery to TAP Airlines

Avolon 26 November celebrated the delivery of the world’s first Airbus A330neo to TAP Airlines . The delivery took place during a ceremony at Airbus’ facility in Toulouse where Avolon, Airbus, TAP and Rolls-Royce, the aircraft engine manufacturer, were present. This A330neo is Avolon’s second aircraft on lease to TAP. John Higgins, Avolon President and CCO, said: “Avolon was one of the launch customers of the A330neo in 2014 and we are proud to deliver the world's first A330neo to TAP Airlines. The A330neo is a new technology twin-aisle aircraft that will generate savings through reduced fuel burn; unit cost improvements; and offer TAP Airlines greater opportunities to carry more passengers further. We have a strong partnership with TAP and we look forward to strengthening that relationship in the period ahead.”

CDB Aviation and Evelo Airlines Sign Lease Agreement for One A330-300 Aircraft

CDB Aviation announced 27 November that the company entered into a lease agreement with Palma de Mallorca-based Evelop Airlines covering one Airbus A330-300 aircraft. “We are pleased to welcome our new customer, Evelop Airlines, to CDB Aviation’s rapidly expanding

European customer base,” said CDB Aviation Chief Commercial Officer Patrick Hannigan. “This

widebody aircraft will bolster the airline’s fleet as it continues its ambitious growth and expansion of its flight network connecting European passengers to destinations in the Caribbean.”

NAC have signed an agreement to lease two Embraer E195 and one Embraer E175 aircraft to Air Burkina

Nordic Aviation Capital (NAC) announced 29 November that it has committed to lease two Embraer E195 and one Embraer E175 to Air Burkina, the first of which was delivered in November 2018 to a delegation of the airline led by Transport Minister Vincent Dabilgou and CEO Blaise Sanou. The remaining E195 and the E175 are planned to join Air Burkina’s fleet in December 2018 and January 2019, respectively. Air Burkina intends to use the aircraft to replace its current fleet of two Embraer E170 aircraft and to expand its network and frequencies.

Rolls-Royce Launches Lifekey Enhancement To Lessorcare, With Jackson Square Aviation And Cdb Aviation As First Customers

Rolls-Royce 30 November launched LifeKey, an important new addition to its pioneering LessorCare service which sets new standards in aircraft lessor support. The first LifeKey customers are Jackson Square Aviation and CDB Aviation. Toby Bright, CEO, Jackson Square Aviation, said: “We were among the first lessors to become a LessorCare partner and our LifeKey agreement takes our relationship with Rolls-Royce another step further.”

SMBC Aviation Capital receives USD $1 billion in capital from its shareholders

SMBC Aviation Capital announced 29 November that it has received $1 billion new capital from its shareholders. This follows on from the original announcement in November 2017 of Sumitomo Mitsui Financial Group, Inc and Sumitomo Corporation’s intention to provide further capital.The new capital comprises of $700 million preferred equity capital from Sumitomo Mitsui Finance and Leasing Company, Ltd. and Sumitomo Mitsui Banking Corporation and a $300 million subordinated loan from SMBC. It endorses SMBC Aviation Capital’s growth plans and strategy and enhances the company’s continued ability to provide its customers with a range of financing solutions.

SMBC Aviation Capital upgraded to A- rating by S&P

SMBC Aviation Capital announced 30 November that its Issuer Credit Rating and Senior Unsecured Rating has been upgraded to ‘A-’ from ‘BBB+’ by S&P Global Ratings . This, alongside the company’s A- rating from Fitch means that SMBC Aviation Capital holds the joint highest rating of any company in the aircraft leasing industry. Commenting on the upgrade, Peter Barrett, CEO of SMBC Aviation Capital, said: “We are pleased to receive this upgrade from S&P, which reflects the strength of our platform, the quality of our portfolio and our shareholders’ commitment to this business, which was further evidenced today when we received a $1 billion capital contribution. I would like to acknowledge our team which has played an important role in today’s announcements. They, alongside our shareholders, are what differentiates us in a competitive market.”

Stratos Continues Growth, Managed Portfolio Exceeds $1bn

Stratos recently arranged the acquisition, financing and delivery of two Airbus widebodies leased to Asian flag carriers which has increased the size of its managed portfolio to 14 aircraft worth over $1bn. Gary Fitzgerald, CEO of Stratos, said “We are delighted to have achieved this milestone of $1bn under management which brings us into the top 50 aircraft servicers by portfolio value. We have gathered an experienced team since inception exactly five years ago, and are looking forward to the next phase in our development, continuing to serve our airline, banking and investor clients”

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