09 Mar 2020

Irish Aircraft Leasing Newsletter 9 March

AerCap Announces New Chairman AerCap announced that Pieter Korteweg, the Chairman of the Company's Board of Directors , has decided to retire from the Board with effect from the close of the Company's annual general meeting of shareholders in 2020 . "We are extremely grateful for Pieter's excellent work and valuable contributions during his years of service. Under Pieter's chairmanship, the Company has become the industry leader and delivered exceptional financial performance," said Aengus Kelly, CEO of AerCap. AFG Aviation Ireland acquires one Airbus A320-214 from Vermillion Aviation Irish lessor AFG Aviation  has completed the acquisition of one Airbus A320-214 bearing MSN 4865 from Vermillion Aviation (Nine) Limited. Fly Leasing Reports Fourth Quarter and Full Year 2019 Financial Results Fly Leasing is reporting net income of $$75.2 million for the fourth quarter of 2019 versus net income of $31.0 million for the same period in 2018. Net income for the year ended December 31, 2019 was $225.9 million, compared to net income of $85.7 million for the year ended December 31, 2018. In the year 2019 FLY sold 35 aircraft with an average age of over 10 years, generating an economic gain of nearly US$150 million, which was an 18% premium to book value. Jackson Square Aviation Announces New Leadership Roles Jackson Square Aviation (JSA) announced the establishment of new leadership roles and related promotions as follows: Mathew Adamo is appointed to the position of Chief Investment Officer in addition to his role as Executive Vice President and Head of Capital Markets; Daniel McGrath is appointed to the position of Head of EMEA Marketing; John Yanney is appointed to the position of Head of Americas Marketing and OEM Relations; Michael Hazelton is appointed to the position of Head of Trading, as previously announced in December. "We are delighted to announce well deserved promotions for this dynamic group, who will be instrumental in helping JSA continue to grow its product offering and market presence while continuing to nurture our customer focused approach" said Chris Dailey, Jackson Square Aviation President & Chief Commercial Officer. NAC delivered one ATR 72-600, MSN 1318, to Caribbean Airlines on lease Nordic Aviation Capital (NAC) confirmed the delivery of ATR 72-600, MSN 1318, to Caribbean Airlines on lease. Caribbean Airlines intend to operate the aircraft on its regional and domestic flights Acumen Aviation © 9 March 2020 All Rights Reserved.