09 Aug 2021

Irish Aircraft Leasing Newsletter 9 August

Arena Capital: Launch of Irish Office and Appointment of Peter Blakeney as MD Arena Aviation Capital announced the recent appointment of Peter Blakeney in the capacity of Managing Director. As part of the Arena’s strategic expansion, Peter will join the senior leadership team to spearhead the setup and growth of the Irish office which added 12 aircraft to its lease portfolio during the first half of 2021 with further growth expected of at least a similar amount of aircraft during the second half of 2021. Avolon Successfully Reduces Price Of US$672 Million Term Loan B Facility Avolon announced the successful re-pricing of US$672 million of its senior secured Term Loan B-5 Facility. The Facility, which has a maturity date of December 2027, has been re-priced at LIBOR plus 2.25%, from LIBOR plus 2.50%, with a LIBOR floor of 0.50%, reduced from 0.75%. Carlyle Aviation Completes Acquisition of Fly Leasing Carlyle and Fly Leasing announced that an affiliate of Carlyle Aviation Partnerscompleted its previously announced acquisition of FLY. Carlyle Aviation is the commercial aviation investment and servicing arm within Carlyle’s $61 billion Global Credit platform. The closing of the transaction follows the receipt of regulatory approval from all government authorities required by the merger agreement and approval by FLY’s shareholders. Carlyle Aviation used funds from its fifth aviation fund, SASOF V, for this acquisition. GECAS’ 737-800 Converted Freighter Fleet Climbing to over 40 GECAS has contracted to add six 737-800BCFs to its in-service fleet, bringing the GECAS fleet of passenger-to-freighter (P2F) converted 737-800NG narrowbody freighters in operation to more than 40, an average of one aircraft added per month since the world’s first 737-800NG Converted Freighter was delivered in April 2018. Two of the aircraft will be added to ATRAN’s fleet and the remaining four with undisclosed operators. SVP and Manager GECAS Cargo Richard Greener stated “The team at GECAS Cargo takes pride in ensuring our airline clients are afforded a steady flow of available Boeing converted freighters to enter service on time and meet the demand of the Air Cargo networks. We are delighted to support the replacement growth strategies of ATRAN with these additional operating leases for 737-800BCFs.” SMBC Aviation Capital joins Aviation Coalition that jointly donates $400K to support COVID-19 vaccination in 92 Countries SMBC Aviation Capital joined AerCap, Collins Aerospace and Pratt & Whitney in a group effort to support equitable access to COVID-19 vaccinations in low-income countries via a collective $400,000  contribution to the Gavi COVAX Advanced Market commitment (COVAX AMC), the multilateral mechanism, that provides access to donor-funded vaccine doses to 92 lower-income economies. In addition, the Gavi Matching Fund will double the impact of this gift, resulting in $800,000 in support of global COVID-19 vaccine equity. SMBC Aviation Capital CEO Peter Barrett said “It is our responsibility as good corporate citizens to play our part in addressing global vaccine equity. By supporting COVAX AMC and Gavi, we are helping to ensure that everyone will have equal access to safe vaccines regardless of where they live or their means. This is a global solution to a global crisis and one that we are proud to support.” Acumen Aviation © 9 August 2021 All Rights Reserved