08 Oct 2018

Irish Aircraft Leasing Newsletter 8 October

AerCap Leased, Purchased and Sold 87 Aircraft in the Third Quarter 2018 AerCap announced 4 October its major business transactions during the third quarter 2018. The lessor Executed sale transactions for 13 aircraft, including 4 Airbus A320 Family aircraft, 2 Airbus A330s, 1 Airbus A340, 1 Boeing 737NG, 1 Boeing 757, 2 Boeing 767-300ERs, 1 Boeing 777-200ER and 1 Boeing 777-300. Purchased 12 aircraft, including 6 Airbus A320neo Family aircraft, 2 Airbus A350s, 2 Boeing 737 MAX 8s and 2 Boeing 787-9s. In Q3 Signed lease agreements for 62 aircraft, including 9 widebody aircraft and 53 narrowbody aircraft. AerCap takes Delivery of its First Boeing 737 MAX AerCap announced 28 September that it has taken delivery of its first 737 MAX 8. The aircraft will be leased to China Southern Airlines, the first of 5 aircraft to go on lease to the airline from AerCap’s 737 MAX order book with Boeing. AerCap and China Southern Airlines have recorded several firsts in recent years. In March 2018, AerCap made history when it delivered China Southern Airlines’ first A321neo, making the airline the first operator of the aircraft type in China. In 2016, AerCap delivered the first Pratt & Whitney powered A320neo into China, to China Southern Airlines. CityJet leases two Bombardier CRJ900 ERs from TrueNoord TrueNoord announced 27 September the closing of a sale-lease back transaction providing two Bombardier CRJ900 ERs to Cityjet DAC on ten year operating lease terms. TrueNoord has partly financed the transaction by the recent term loan warehouse facility underwritten by NORD/LB, Morgan Stanley and Barclays. Legal advice was provided by Hogan Lovells for TrueNoord and Allen & Overy for CityJet. Norton Rose and Clifford Chance advised on the financing side of the transaction. Ireland Strategic Investment Fund invests in Genesis Aircraft Service The Ireland Strategic Investment Fund (“ISIF”) announced 28 September a €50m investment in Genesis Aircraft Services Limited, a full life cycle commercial aircraft lessor. Genesis is a Dublin based lessor, owned by Barings LLC, one of the world’s leading financial services firms. This investment by ISIF will enable Genesis Aircraft Services to scale its existing Irish operations and will result in a significant component of the enlarged Genesis fleet being serviced by Irish technical service providers, thereby enhancing the “on the ground” economic impact from Ireland’s already world leading aviation finance sector. NAC delivered one ATR 72-500, MSN 723, to Aeronova on lease Nordic Aviation Capital (NAC) announced 27 September the delivery of one ATR 72-500, MSN 723, to Aeronova on lease. The aircraft will be operated by Air Europa Express. NAC delivered one Embraer E195, MSN 19000029, to Georgian Airways on lease Nordic Aviation Capital (NAC) announced 4 October the delivery of one Embraer E195, MSN 19000029, to Georgian Airways on lease. NAC delivered one ATR 72-600, MSN 1121, to Regional Jet OÜ on lease Nordic Aviation Capital (NAC) announced 27 September the delivery of one ATR 72-600, MSN 1121, to Regional Jet OÜ on lease. SMBC Aviation Capital concludes five A320neo aircraft deal with new customer, Chilean airline, JetSMART SMBC Aviation Capital announced 3 October an agreement for the placement of five (5) A320 neo aircraft with Chilean low-cost carrier, JetSMART Airlines. This marks SMBC Aviation Capital’s first deal with the airline. These aircraft will be leased to the airline from SMBC Aviation Capital’s order book with a delivery timeline of 2019. Powered by Pratt & Whitney GTF engines, the aircraft will be deployed on routes in Chile and the surrounding region. Peter Barrett, CEO, SMBC Aviation Capital added, “We are delighted to conclude this deal with JetSMART, one of South America’s newest airlines and a new customer for SMBC Aviation Capital. This announcement also underlines our expanding footprint, not just in the Chilean market but right across the region. It is an exciting time for JetSMART and we are happy that we can support them at this crucial growth stage.” Acumen Aviation © 8 October 2018 All Rights Reserved.