30 Jan 2023

North American Aviation Newsletter

Croatia Airlines will lease six new Airbus A220 aircraft from Air Lease Corporation (ALC)

Six new Airbus A220 aircraft, comprising four A220-300s and two A220-100s, have been placed on long-term lease with Croatia Airlines, according to an announcement from Air Lease Corporation. From ALC's order book with Airbus, the planes are expected to be delivered to Croatia Airlines starting in 2024 and continuing through 2025.

Cargolux and GE Aerospace enter long term GE9X, GEnx agreements

A long-term support agreement for the GE9X, which powers Cargolux's new fleet of Boeing 777-8 freighters, has been announced by GE Aerospace and Cargolux. In addition to the purchase of two spare engines, the arrangement includes a multi-year GE TrueChoice service agreement. Cargolux was the GEnx-2B's initial user and the first company in the world to fly a million hours with the engine.

Castlelake creates a reinsurer to offer buyers of aircraft assets insurance financing options

To provide insurance financing options to purchasers and owners of commercial aircraft assets, Castlelake announced the formation of Itasca Re Limited, a reinsurance firm with a Bermuda license. Through an insurance policy issued by Starr Insurance Companies that is reinsured by Itasca Re and other potential third-party reinsurers in accordance with a dedicated reinsurance agreement, the solutions provided by Itasca Re are intended to try to enable competitive financing rates for purchasers of aircraft assets.

Delta Air Lines firms order for 12 additional Airbus A220-300 aircraft

Delta Air Lines has firmed up an order for 12 more Airbus 220-300 aircraft, bringing the airline’s total firm order for Airbus A220s to 119 aircraft - 45 Airbus A220-100s and 74 Airbus A220-300s. Throughout the years, Delta has reordered the A220 four times and is today the largest A220 customer and operator. Delta Air Lines Vice President of Fleet Kristen Bojko said, “These 12 additional A220 aircraft will help power our increasingly streamlined fleet while also providing our customers with the elevated in-flight experience they’ve come to expect from Delta.”

Griffin Global Asset Management Signs Amendment, and Upsizing of Warehouse Facility to $1.6 Billion of Capacity

Griffin Global Asset Management announced that 2022 Palisade Aviation Holdings Warehouse, Ltd. and Palisade Aviation Holdings Warehouse, LLC signed an amendment, and upsizing transaction for its senior secured warehouse facility, which now has a committed amount of $1.6 Billion.

Textron Aviation Delivers 3,000th Cessna Caravan Family Aircraft

Textron Aviation announced it has delivered a Cessna Grand Caravan EX to Brazilian aviation company Azul Conecta, a subsidiary of Azul Airlines based at the airport of Jundiai in São Paulo. This aircraft represents the 3,000th Cessna Caravan family turboprop delivered worldwide, reinforcing the Caravan as the most popular utility turboprop in the world. Azul Conecta transports travellers from smaller cities and remote locations throughout Brazil.

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