05 Jul 2021

Irish Aircraft Leasing Newsletter 5 July

GECAS Increases Commitments to 777-300ERSF “Big Twin Program” and Kalitta Air Signs Up for Two More Operating Leases for the Freighter GECAS announces the exercise of three options to firm order with Israel Aerospace Industries (IAI) to convert an additional three of the lessor’s 777-300ER passenger planes to freighters.  This brings GECAS total commitment since the launch of the “Big Twin Program” in July 2019 to 18 firm (including the prototype aircraft from GECAS’ owned portfolio) with IAI and a remaining 12 options. Kalitta has contracted to lease two additional 777-300ERSF from GECAS. SVP & Manager of GECAS Cargo Rich Greener said “We view the 777-300ERSF as the next generation of long-haul, large-capacity widebody freighters.  We’re seeing immense interest in this new product from seasoned operators like Kalitta to new start-ups who are seeing clear advantages with the affordability of the aircraft, best in class economics and the expanded capacity of the 777-300ERSF.” Jackson Square Aviation Announces Delivery of Two Boeing 737-800 Aircraft to Sun Country Airlines Jackson Square Aviation (JSA) announced the delivery of two Boeing 737-800 aircraft to Sun Country Airlines. Both aircraft will provide differing missions, one suited for scheduled operation while the other is newly configured to offer a unique service to the airline’s V.I.P. charter customers. Sirius Aviation Capital acquires 10 mid life aircraft from BOC Aviation Sirius Aviation Capital has acquired ten single-aisle, mid-life aircraft from BOC Aviation. Sirius Aviation Capital CEO Howard Miller stated “We are delighted to have grown our fleet to 10 aircraft during the worst year in the history of commercial aviation. This is testimony to the strength of our business model, which is to acquire aircraft on lease to top tier airline credits availing of the attractive returns available in mid-life single aisle aircraft leasing”. SMBC Aviation Capital Orders 14 Boeing 737 MAX Aircraft Boeing and SMBC Aviation Capital announced the lessor is positioning its portfolio for air traffic recovery by ordering 14 additional 737-8 aircraft, growing its 737 MAX portfolio. The new order comes as airlines prepare for a robust return to air travel and modernize their narrowbody fleets to reduce fuel use and carbon emissions. SMBC Aviation Capital CEO Peter Barrett stated “We are pleased to have concluded an agreement with Boeing for the purchase of 14 low-cost carrier configured 737 MAX aircraft which is an aircraft we are seeing increased customer demand for following its successful return to service”. Acumen Aviation © 5 July 2021 All Rights Reserved.