11 Oct 2021

North American Newsletter 11 October

AerCap Signs Lease Agreements with Spirit Airlines for 20 Airbus A320neo Family Aircraft AerCap announced that it has signed agreements with Spirit Airlines for the lease of 20 new Airbus A320neo Family aircraft. All twenty aircraft are scheduled to begin delivery in 2022 with deliveries continuing through 2023 and 2024. AerCap CEO Aengus Kelly said “This is a significant transaction for AerCap with one of the most successful low-cost carriers in aviation. We are delighted to add 20 aircraft to our already substantial business with Spirit. The Airbus A320neo Family will help Spirit grow their fleet in an economical way while advancing its commitment to maintain a highly competitive, fuel-efficient fleet of aircraft equipped with engines that have lower carbon emissions than previous-generation engines.” Air Lease Corporation Announces Pricing of $300 Million Offering of Preferred Stock Air Lease Corporation announced the pricing today of its public offering of 300,000 shares of 4.125% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series with a liquidation preference of $1,000.00 per share. The lessor intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness. Alaska Airlines launches new codeshare agreement with Iberia Airlines Alaska Airlines further expanded its global reach with the announcement of a new codeshare agreement with Iberia Airlines, a fellow member of the oneworld alliance. The agreement further strengthens the existing partnership between the two airlines by providing flyers with exciting and convenient travel options. The agreement allows passengers on Iberia to book travel and easily connect to more than 40 routes throughout Alaska's network. Iberia has nonstop service between Los Angeles and its Madrid hub, and seasonal service between San Francisco and Barcelona enabling seamless connectivity to the Alaska network beyond both California cities. Aviation Capital Group Selects Pratt & Whitney GTF™ Engines to Power Up to 17 More Airbus A320neo Family Aircraft Pratt & Whitney announced that Aviation Capital Group LLC (ACG), a leading aircraft operating lessor, has selected Pratt & Whitney GTF™ engines to power an additional 10 firm Airbus A320neo family aircraft, bringing its total to 40 firm GTF-powered A320neo family aircraft. ACG also has the option to power an additional 7 A320neo family aircraft with GTF engines. BOC Aviation Selects Pratt & Whitney GTF™ Engines to Power up to 25 More Airbus A320neo Family Aircraft Pratt & Whitney announced that BOC Aviation has selected Pratt & Whitney GTF™ engines to power its latest order of 10 firm and 15 option Airbus A320neo family aircraft. The aircraft are expected to enter service beginning in 2022. GE Aviation delivered its final CF6-80E1 production engine GE Aviation delivered its final CF6-80E1 production engine to China Airlines last week for the airline’s Airbus 330 fleet. China Airlines have operated CF6 engines for almost 20 years with the CF6-80C2 and CF6-80E1-engines powering their aircraft fleet. GE Aviation and China Airlines also signed a 15-year material agreement in 2016 and established a local material storefront in the region to reduce turn time on spare parts for use in the overhaul of its CF6-80E engines. Global Crossing Airlines Announces Lease of One A321 Freighter Aircraft Global Crossing Airlines announced the signing of a definitive agreement with ST Engineering Aerospace Resources, the aviation leasing arm of ST Engineering to lease one Airbus A321 P2F freighter. This is the first Aircraft of up to five (5) A321 freighters that GlobalX will eventually lease from STE Aerospace Resources. The first Aircraft will be converted at ST Engineering’s facility in San Antonio, Texas starting in February 2022 and is expected to be placed into revenue service by October 2022. Acumen Aviation © 11 October 2021  All Rights Reserved.