03 May 2022

Irish Aircraft Leasing Newsletter 3 May

AFG Aviation Ireland Limited sold one B747-8 to Boeing AFG Aviation Ireland Limited (AFG), a wholly owned subsidiary of Aircraft Finance Germany GmbH announced the sale of one Boeing 747-8JA bearing serial number 40065 to The Boeing Company. AFG ferried the aircraft on 15^th April from Basel, Switzerland to Marana, Arizona. Jackson Square Aviation Announces Financing of One Airbus A350-900 Aircraft to Air France Jackson Square Aviation (JSA) announced a purchase and leaseback financing to Air France with the delivery of one Airbus A350-900 aircraft and a second aircraft due to be delivered soon, both of which are under long-term leases. “We are delighted to provide further fleet financing solutions to Air France with the delivery of this latest technology A350-900 aircraft,” said Chris Dailey, JSA President & Chief Commercial Officer. Christophe Million-Rousseau, SVP Marketing & Capital Markets EMEA, added, “We look forward to supporting Air France’s fleet renewal plans.” Nordic Aviation Capital achieves confirmation of Reorganization Plan Nordic Aviation Capital Designated Activity Company announced that the U.S. Bankruptcy Court for the Eastern District of Virginia has confirmed the Company’s Plan of Reorganization, which should enable the Company to emerge from Chapter 11 before the end of May. The Plan was approved by the Court with the consent of the Company’s existing equity holders and over 99% of voting creditors voting in favour of the Plan, reflecting broad consensus among the Company’s stakeholders. The Plan, which will take effect upon emergence, will reduce NAC’s total outstanding debt by $4.1 billion pursuant to various equitization, sale, and recapitalization transactions. With an infusion of nearly $540 million in new capital through approximately $337 million in new equity financing and $200 million in new revolving credit loans, the Plan achieves significant financial flexibility to support continued investment in the long-term growth of the Company. Additionally, the Plan will extend existing funded debt maturities and effectuate the orderly exit of certain creditor groups from the reorganized NAC structure. Critically, NAC’s restructuring will preserve the strength of the platform and the long-standing relationships the Company maintains with its customers and suppliers. The Company will maintain its position as one of the largest lessors globally, with over 350 aircraft on lease to a diverse customer base. Zephyrus Aviation Capital and volofin Capital Management Ltd. close inaugural financing transaction for two aircraft on lease to American Airlines, Inc volofin Capital Management announced it has completed the structuring and debt financing of a pair of narrow body aircraft on lease to American Airlines for Zephyrus Aviation Capital The financing is the first transaction between Zephyrus and volofin and fits very well into both companies’ strategy around mid-life narrow body aircraft. The aircraft are also the first AAL leased aircraft in Zephyrus’ and volofin’s portfolios respectively. Acumen Aviation © 3 May 2022 All Rights Reserved