06 Jul 2020

Irish Aircraft Leasing Newsletter 6 July

AerCap Delivers New A321NEO-LR to Air Transat AerCap announced 1^st July the delivery of a new Airbus A321LR on operating lease to Air Transat. “We are very pleased to deliver to Air Transat a new A321LR,” said Philip Scruggs, President and Chief Commercial Officer of AerCap. “The exceptional capabilities and economics of the A321LR will allow Air Transat to fly to its destinations with greater efficiency during these difficult times for airlines.” AerCap is the world's largest Airbus A320neo Family lessor, with 325 aircraft owned and on order. A&L Goodbody advises Aviation Working Group on Global Aircraft Trading System A&L Goodbody’s aviation and transport finance taskforce has been engaged by the Aviation Working Group to help draft the Irish law Global Aircraft Trading System (GATS).  “GATS is particularly important for many Irish companies as Ireland is the global hub for aviation finance. More than 50% of the aircraft leased to airlines globally are owned by Irish companies,” said A&L Goodbody partner and head of aviation and transport finance, Marie O’Brien, in a statement. Genesis Names Adam Smyth New Chief Financial Officer Genesis announced the appointment of Adam Smyth to the position of Chief Financial Officer with effect from 1st July. The appointment of Mr. Smyth follows Cian Mackey’s departure from the company at the end of June 2020.  Karl Griffin, CEO of Genesis said: “I am delighted to announce Adam’s appointment as Genesis’ Chief Financial Officer. Adam has been core to the development of Genesis since the beginning including the transformational changes made in 2018 to expand our capabilities into a full-service aircraft leasing platform. Adam’s promotion highlights our aim to build dynamic teams for the future and further strengthens our position in the industry as we successfully navigate through this pandemic.” SMBC Aviation Capital announces A320neo-family aircraft sale and leaseback agreement with easyJet SMBC Aviation Capital announced 26 June that it has concluded a sale and leaseback agreement for six (6) A320neo aircraft with easyJet (MSNs 8243, 8304, 9110, 9105, 9111, 9171). Peter Barrett, Chief Executive Officer, SMBC Aviation Capital said “We are delighted to sign this sale and leaseback agreement with easyJet building on our long-term partnership with the airline. This transaction highlights how SMBC Aviation Capital can effectively leverage its strong capital position and industry leading credit rating to offer flexible long-term financing solutions to its customers facingthe most challenging of circumstances.” SMBC Aviation Capital announces A321neo aircraft sale and leaseback agreement with Turkish Airlines SMBC Aviation Capital announced 1^st July that it has concluded a sale and leaseback agreement for two Pratt and Whitney-powered (2) A321neo aircraft with Turkish Airlines (MSNs 9157 and 9326).  Peter Barrett, Chief Executive Officer, SMBC Aviation Capital said “We are delighted to sign this agreement today, which extends the long-standing partnership we are proud to have built with Turkish Airlines. This is a further example of the flexible, long-term financing solutions we are able to offer our customers as a result of SMBC Aviation Capital’s strong capital position and industry-leading credit rating.”

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