Chinese flag carrier Air China on 18 March said it inked a deal to buy 18 narrow-body jets from AFS Investments Inc, a subsidiary of aircraft lessor GE Capital Aviation Services (GECAS). The deal, valued at US$2.24 billion, is an order for 18 new planes, including five A320-200N airplanes and 13 A321-200NX, to be delivered to Air China in batches by 2022. The sale of factory-fresh aircraft by a lessor, rather than maker Airbus, raised eyebrows with industry figures on Friday, Nikkei Asia … [Read more...] about GECAS subsidiary signs US$2.24 billion deal with Air China
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Leasing & Chartering
AerCap, GECAS merger forms world’s biggest jet lessor
Aviation lessor AerCap confirmed on 10 March in a filing to the US Securities and Exchange Committee (SEC) its proposed acquisition of GE’s aircraft leasing division GECAS (GE Capital Aviation Services). The deal, valued at US$30 billion, is still subject to shareholder and regulatory approvals, and other customary closing conditions, but is expected to be closed by the last quarter of 2021. Under the terms of the agreement, GE will get approximately $24 billion in cash, 111.5 million … [Read more...] about AerCap, GECAS merger forms world’s biggest jet lessor
Antonov Airlines uplifts 54-tonne powergen rotor
Antonov Airlines drafted its AN-124 to complete an urgent order to carry a 54-tonne rotor, used in power generation, from Ghana to India for repairs and back to Ghana in good condition. Forwarder Rhenus Project Logistics USA, which specialises in heavy-duty transport services, chartered the flight to carry the 10.50m x 3.89m x 4.13m rotor from Accra in Ghana to Mumbai in India, including the return trip. Also read: Antonov Airlines drafts world’s largest freighter to do the … [Read more...] about Antonov Airlines uplifts 54-tonne powergen rotor
B737-800 conversions pick up as lessors bank on potential
Orders for 737-800 converted freighters are picking up as aircraft fleet operator ASL Aviation Holdings (ASL) exercised options to convert 10 of the aircraft for cargo use, following an original agreement with Boeing for 10 firm orders and 10 options at the Paris Air Show in June 2019. ASL said the 737-800BCF aircraft will be operated mainly by its European airline partners and will be introduced to meet the requirements of its express integrator customers like DHL, Amazon and FedEx. The … [Read more...] about B737-800 conversions pick up as lessors bank on potential
PIMCO and GECAS to set up US$3 billion aircraft leasing fund
With carriers scrambling to find some relief support amidst a downturn, a new investment platform could provide much-needed financing for airlines that are looking to upgrade their fleets with new aircraft. Fixed-income investment manager PIMCO and leading aircraft lessor GE Capital Aviation Services (GECAS) have reached a preliminary agreement to develop an aviation leasing platform to support up to US$3 billion in aircraft asset financing. The transaction will be subject to “customary … [Read more...] about PIMCO and GECAS to set up US$3 billion aircraft leasing fund
CSafe and China Airlines sign MLA
CSafe Global and China Airlines have signed a Master Lease Agreement to offer transport and leasing services for the CSafe RKN active temperature controlled container on China Airlines flights. “We are pleased to sign this new master lease agreement with CSafe Global” said China Airlines in a statement. “Our healthcare and pharmaceutical customers who require strict temperature control of their products during transport will benefit from access to CSafe’s industry-leading cold chain … [Read more...] about CSafe and China Airlines sign MLA
