04 Nov 2019

Irish Aircraft Leasing Newsletter 4 November

Aergo Capital announces the acquisition and placement of an ATR-72 600 with Afrijet Airlines Aergo Capital (Aergo) has announced the acquisition of one 2015 vintage ATR-72 600 which will be delivered under an operating lease to Gabon’s Afrijet Airlines. The aircraft is the fourth the Irish-based lessor has placed with Afrijet.  Following this transaction, Aergo’s owned and managed fleet stands at 49 aircraft. Aergo Capital’s CEO Fred Browne said: “We are delighted to have closed this transaction and to have further developed our relationship with Afrijet.” Avolon Hosts Accelerate i for 80 Irish Start-up Companies Avolon together with Enterprise Ireland, the agency responsible for the growth of Irish businesses in world markets, today hosts Accelerate i, a day-long event for entrepreneurs and start-up companies focused on ‘Skills for Scaling Your Business in 2020 and Beyond’. “We are delighted to work with Enterprise Ireland on this initiative and to have met with over 80 Irish high potential starts-up beginning their scaling journey. Their drive, ambition and innovation highlights the inherent start-up potential we have in Ireland.” 120 delegates from over 80 Irish high potential starts-up, beginning their scaling journey, are participating in the event hearing from a range of experts in innovation, leadership, psychology and communication. Delegates were welcomed by Enterprise Ireland’s, Executive Director Global Business, Kevin Sherry and Avolon CEO, Dómhnal Slattery. Presenters at the event include MD of Techstars Berlin, Connor Murphy and renowned inspirational speaker Mark Pollock. Elix Aviation Capital Delivers Dash 8-202 MSN 529 to Field Aviation Company Inc Elix Aviation confirm that it has delivered one Dash 8-202, MSN 529, under a purchase by Field Aviation Company Inc., headquartered in Mississauga Canada. This aircraft will undergo extensive modifications for onward sale to a third party. Garuda Indonesia to Operate Two 737-800 Converted Freighters from GECAS Garuda Indonesia and GECAS have entered into a lease agreement for two 737-800 Boeing-converted freighters (BCF). The passenger-converted aircraft are slated to be phased in mid-2020 and will provide additional capacity to Cargo Garuda Indonesia. “GECAS is excited to provide these converted 737-800 freighters to Garuda as they expand their dedicated cargo fleet,” stated Richard Greener, GECAS’ SVP & Manager Cargo Aircraft Group. NAC delivered one new Embraer E190, MSN 19000770, to HOP! on lease Nordic Aviation Capital (NAC) confirmed 18 October the delivery of one new Embraer E190, MSN 19000770, to HOP! on lease. This is the fifth aircraft to deliver as part of a seven aircraft lease agreement. SKY Leasing And M&G Investments Establish Strategic Partnership And Close First Aircraft Fund With $300 Million Investment Sky Leasing has closed its first aircraft leasing fund with a $300 million equity investment from M&G Investments ("M&G"). As servicer to the fund, SKY Leasing will focus on providing fleet solutions for its longstanding airline customers through the acquisition of current-generation and next-generation Boeing and Airbus aircraft. M&G will also acquire a stake in SKY Leasing to support the growth of its asset management platform, including the launch of its Irish servicing operation and continued operations in San Francisco, California. The aircraft leasing market is an efficient way for airlines to update their fleets with next-generation aircraft. The fund will provide approximately $1 billion of capital to invest in new and current-generation aircraft. "We are excited to launch this first aircraft fund with M&G, who supports our vision for the growing opportunity to provide capital and aircraft fleet solutions to our global airline customer network, in addition to providing liquidity in the aircraft trading market," said SKY Leasing Chief Executive Officer Austin Wiley. "We look forward to building a best-in-class portfolio with an initial target of $1 billion of Boeing and Airbus aircraft." Acumen Aviation © 4 November 2019 All Rights Reserved.