16 Aug 2021

North American Newsletter 16 August

Air Lease Corporation Announces Pricing of Public Offering of $1.1 Billion of Senior Unsecured Medium-Term Notes Air Lease Corporation announced the pricing on August 11, 2021 of its public offering of $600.0 million aggregate principal amount of 0.80% senior unsecured medium-term notes due August 18, 2024 and $500.0 million aggregate principal amount of 2.10% senior unsecured medium-term notes due September 1, 2028 The sale of the Notes is expected to close on August 18, 2021, subject to satisfaction of customary closing conditions. ALC 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. Amazon Air Launches State-of-the-Art Air Cargo Hub in Northern Kentucky, Creating More Than 2,000 Jobs Amazon announced the beginning of Amazon Air Hub operations at the Cincinnati/Northern Kentucky International Airport (CVG). After more than four years of planning and construction, the Amazon Air Hub will serve as the central hub for Amazon Air’s U.S. cargo network, facilitating the rapid transport of customer packages across the country. Aviation Capital Group Announces Delivery of Third A220 to airBaltic Aviation Capital Group announced the delivery of one new Airbus A220-300 aircraft on long-term lease to airBaltic. This aircraft is ACG’s third A220 aircraft to be leased by ACG to airBaltic as part of a sale and leaseback transaction between ACG and the airline. Honeywell and Lufthansa Technik sign MRO agreement for components in CFM's LEAP series engines Honeywell and Lufthansa Technik have signed an extensive collaboration agreement for the maintenance of Honeywell components installed on CFM International's LEAP series engines which are used in Airbus A320neo Family, Boeing 737 MAX and COMAC C919 aircraft. Under this agreement, Lufthansa Technik will develop Maintenance, Repair and Overhaul (MRO) capabilities for the aforementioned Honeywell components. By this, the company will be able to offer improved and OEM-certified aftermarket services, with increased component reliability and reduced operator life-cycle costs. IAI and GECAS Begin First Boeing 777-300ERSF Passenger to Freighter Conversion Israel Aerospace Industries (IAI) has begun the structural modification phase in the conversion of the first Boeing 777-300ERSF, in partnership with GE Capital Aviation Services (GECAS). The beginning of the conversion marks the end of the development process and the start of the structural and systems modification phase. The conversion process will take approximately 130 days, at the end of which the passenger aircraft will be turned into a freighter aircraft. The passenger-to-freighter conversion includes changing the structure, which involves installing a new cargo door, replacing and strengthening the aircraft floor, installing reinforcements near the cargo opening, and modifying electrical systems to enable safe and convenient operation. In addition, the process will include receiving certification for the converted aircraft by the Civil Aviation Authority of Israel (CAAI), the Federal Aviation Administration (FAA), among others. JetBlue Shakes Up Transatlantic Market with Service Between New York and London JetBlue announced it has officially entered the transatlantic market on the 12^th August with new, nonstop service between New York’s John F. Kennedy International Airport (JFK) and London Heathrow Airport (LHR). The highly anticipated milestone – aimed at shaking up the transatlantic market with the airline’s award-winning service and attractive fares – marks the first time JetBlue has served a destination beyond the 100+ cities it flies to throughout the Americas. With new service in the United Kingdom, JetBlue now operates in 26 countries. JetBlue CEO Robin Hayes stated “For the first time in JetBlue’s 21-year history we are crossing the North Atlantic and competing in one of the busiest travel markets in the world, well-positioned to introduce our award-winning service and low fares to a new global audience that is ready for a fresh choice in transatlantic flying.” Acumen Aviation © 16 August 2021  All Rights Reserved.