30 Jan 2017

Irish Aircraft Leasing Newsletter 30 January

AerCap Signs Lease Agreement with Loong Air for 20 New Aircraft AerCap Holdings N.V. announced it has signed a lease agreement for twenty new aircraft with Chinese carrier, Loong Air. The signing ceremony took place in Hangzhou between AerCap Chief Executive Officer, Aengus Kelly and Loong Air Chairman, Liu Qihong. This agreement represents the largest deal ever signed by a lessor with a Chinese private airline. AJW Leasing bolsters Dublin office AJW Leasing, that has offices in Dubai, has deployed key staff to a new office location in Dublin, Ireland. Apollo Aviation Group Celebrates 15th Anniversary Apollo Aviation Group announced that it held a celebratory luncheon on Friday 20 January to mark its 15th anniversary as a business and its tenth anniversary in Ireland. Apollo Aviation was founded in the U.S. by Mr. Hoffman and its President, Robert Korn, in 2002. They went on to establish the Irish subsidiary in 2007, basing the firm's leasing and origination activities out of Dublin. Avolon Announces Pricing of US$3.0 Billion Senior Notes Offering Avolon Announced the pricing of $3.0 Billion Senior Notes Offering on 20 January. Avolon intends to use the net proceeds from the Offering, together with cash on hand, new equity contributed by Avolon’s indirect parent company, Bohai Capital Holding Co., Ltd and US$5,500 million of borrowings under a new senior secured term loan facility, to finance the previously announced acquisition of C2 Aviation Capital, LLC “C2” the commercial aircraft leasing business of CIT Group Inc. Avolon delivers one Boeing B737-800 to Malindo Airways Avolon announced 25 January the delivery of one Boeing 737-800 aircraft to Malindo Airways. This is the fourth Avolon aircraft on lease to Malindo Airways. Avolon fleet grows 72% in 2016 Irish lessor Avolon expanded its owned & managed fleet by 72% to 262 aircraft in 2016. The company described 2016 as a “transformational year,” during which it was acquired by Bohai Capital, integrated Hong Kong Aviation Capital (HKAC) into its business, acquired a $2 billion portfolio of 45 aircraft from GECAS and struck an agreement to acquire CIT Group’s leasing business. GECAS Asset Management Services acquires 737NG inventory GECAS Asset Management Services announced 19 January it entered an agreement with Air Berlin to acquire the airline’s entire inventory of 737NG material, including both rotables and expendables. UCD Smurfit School welcomes Norman C.T. Liu as Adjunct Professor UCD Michael Smurfit Graduate Business School launched Europe’s first Masters in Aviation Finance to support the development of the next generation of aviation lessor management talent to ensure Ireland remains a global leader in the sector. The recently retired Chairman and CEO of GE Capital Aviation Services (GECAS) as Adjunct Professor to assist in delivering its Masters in Aviation Finance programme. Acumen Aviation © 30 January All Rights Reserved.