 Apollo and Athene's acquisition of GECAS' PK AirFinance lending unit
Apollo Global Management and Athene Holding Ltd are to purchase PK AirFinance with Apollo acquiring the PK AirFinance aircraft lending platform and Athene acquiring PK AirFinance’s existing portfolio of loans. Alec Burger, GE Capital President & CEO, said, “Apollo’s vast lending experience, complementary platforms, and exceptional track record across diversified assets and geographies make it the ideal partner to accelerate PK AirFinance’s growth. This sale is aligned to GE Capital’s overall strategy to become smaller and simpler, and our commitment to reduce our assets by $10 billion in 2019 is now more than halfway complete".
The September 5th edition of Aviation Finance is published
In the latest issue: Latest speakers at annual conference of Aviation Finance in Dublin Castle, Ireland, on October 15th next. We note the continuing strong signs of enthusiasm for aviation assets in various forms, including BA’s return to the EETC market and the purchase of GECAS’ subsidiary PK Finance by Apollo Global Management and Athene.
The August 22nd edition of Aviation Finance is published
In the latest issue: Once again, the importance of trading as an inherent component of the aircraft leasing business model – a topic at the heart of the annual conference of Aviation Finance in Dublin Castle, Ireland, on October 15th next – is highlighted by industry leaders in connection with their reports to shareholders and other stakeholders. SMBC Aviation Finance, BOC Aviation and ALC have all remarked on its role as an intrinsic element of their business models.
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Analysis
The August 8th edition of Aviation Finance is published
In the latest issue: The significance of trading as an inherent component of the aircraft leasing business model – a topic at the heart of the annual conference of Aviation Finance in Dublin Castle, Ireland, on October 15th next – has been highlighted once again by leading exponents of the business. In their remarks about AerCap’s record Q2 both CEO Gus Kelly and CFO Pete Juhas emphasised the important of the trading role in creating a sustainable base for growing shareholder value, as opposed to ‘one-off’ gains.
CDB Aviation supplies 737-800 to NordStar Airlines, and is the first global lessor to place a new Airbus A320neo with an African airline, Air Seychelles
July 31st 2019: CDB Aviation announced the placement of a Boeing 737-800 aircraft on a long-term lease to a new customer in Russia, Joint-stock company NordStar Airlines, with airport bases in Krasnoyarsk and Moscow (Domodedovo).
GECAS supplies two Airbus A321neos to Ural - delivering the enhanced fuel efficiency of LEAP engines
July 31st 2019: GECAS will supply two Airbus A321neo aircraft to Ural Airlines. The LEAP-powered narrowbody aircraft - from the lessor’s orderbook – are due to be delivered in October and December of this year. With a current in-service fleet of 45 aircraft from the Airbus A320 family – including A319, A320 and A321 – the Russian operator now transports more than nine million passengers annually and is among the largest rapidly-developing Russian airlines.
In the July 25th issue:
Cutting edge developments in aircraft trading. The Aviation Working Group (AWG)'s initiative in developing the GATS system - a potentially revolutionary adjunct to commercial aircraft trading. SMBC's head of trading Michael Weiss discusses the lessor's new fund, and elsewhere in the issue we reflect on the impact of the decline in lease yields, and the prospects for the near term. These stories are reflective of the main themes at the heart of the Aviation Finance annual conference on October 15th .
In the July 11th issue:
FLY’s leasing’s sale this week of a portfolio of aircraft at a premium to book value, and latest results from other exchange-traded lessors which confirm the importance of residual values to an aircraft industry which engages with a complex buy-sell series of markets from the placing of orders for new aircraft through a lengthy life cycle of more than two decades.
The June 27th edition of Aviation Finance is published
In the latest issue: Two new ABS issues amounting to over $1 billion; and a GECAS sale & leaseback with David Neeleman's new Moxy airline; Insurance trends are under the spotlight too, as we look at the findings of a new report by Allianz Global Corporate & Specialty; Still no clarity on how soon Boeing will resolve 737 MAX issues as FAA identifies need for a further fix; The Paris Air Show - one of the quietest for a number of years: IAG's LoI for 200 737MAXs and the launch of the Airbus’s A321XLR were notable.
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