Category: Leasing News (Page 3 of 7)

Akiem & Alstom sign new framework agreement for 100 Traxx locomotives

July 17, 2023 / WIL BALDWIN

17 July 2023 – Alstom (OTC: ALSMY), global leader in smart and sustainable mobility, and Akiem European rolling stock leasing company have signed a framework contract for 100 Traxx Universal multi-system (MS3) locomotives. The firm part of the order includes 65 locomotives. The total amount of the framework agreement is up 500 million euros. Akiem confirms its leadership on the leasing European market and its ambition to contribute to the rail market’s accelerating activities, with major investment on corridors from France to 12 other European countries.

The Traxx Multi-system locomotives benefit from optimised energy consumption and can run both Freight and Passenger operations at a speed of up to 160 kilometres per hour. They will cover operations in 12 European countries: Germany, Austria, Switzerland, France, Italy, Belgium, Netherlands, Luxemburg, Hungary, Poland, Czech Republic, Slovakia. As a unique feature for multi-system locomotives, a part of them will be delivered with the last mile feature enabling to access ports, terminals or industrial sites without the need of a shunting locomotive.

All locomotives will be equipped with the leading signalling system ATLAS, Alstom’s onboard solution for the European Train Control System (ETCS). This system comes with the broadest coverage of countries and lines, both in ETCS as well as for legacy system operation, and superior two-out-of-three architecture.

Final assembly is planned to take place at the Alstom site in Kassel, Germany. Deliveries of the units are scheduled to take place between 2025 and 2028.

Icelandair becomes new Airbus customer with order for 13 Airbus A321XLR

July 6, 2023 / WIL BALDWIN

Toulouse, France, 06 July 2023 – Icelandair, the main Icelandic airline based in Keflavik, has placed a firm order for 13 Airbus A321XLR. The order makes Icelandair a new Airbus customer. The airline is also planning to lease four A321LR’s.

With its extra long range, the A321XLR will allow Icelandair to seize new market opportunities. The aircraft will also enable the airline to reduce its operating costs, support its sustainability targets and at the same time offer its passengers the best in cabin comfort.

The A321XLR is the next evolutionary step forward from the A320neo responding to market needs for even more range and payload, and creating more value for the airlines. It will deliver an unprecedented Xtra Long Range of up to 4,700nm – 15% more range than the A321LR and with 30% lower fuel burn per seat compared with previous generation competitor aircraft, as well as reduced NOx emissions and noise. For passengers, the A321XLR’s new Airspace cabin will provide the best travel experience, while offering seats in all classes with the same high-comfort as on a long-haul wide-body, with the low costs of a single-aisle aircraft. By the end of May 2023, the A320neo Family had accumulated more than 8,750 orders from 136 customers worldwide.

Sky High Aviation Receives First of Two Embraer E190 Jets

June 1, 2022 / WIL BALDWIN

São José dos Campos, Brazil, June 1, 2022 – Sky High Aviation, an airline based in the Dominican Republic, has taken delivery of its first Embraer (NYSE: ERJ) E190 passenger jet. This makes the air carrier the only E-Jet operator based in the Caribbean. The first of two E190s being provided by regional aircraft lessor, TrueNoord, arrived last week at Las Americas José Francisco Peña Gómez airport after transition works were completed at Embraer’s MRO facility in Macon, Georgia, USA. The second E190 is to be delivered to Sky High later this month.

The addition of the E190s will bring a new level of comfort for passengers and open new international routes from the region. Sky High currently operates a fleet of two 50 seater Embraer ERJ 145s flying to 10 island destinations in the Caribbean. The E190s have been configured in a comfortable dual-class layout with 98 seats and will serve Sky High’s existing destinations as well as opening new international routes to the United States, Central and South America.

Juan Chamizo Alonso, President of Sky High Aviation, said, “It’s a huge differentiator for us to be the only operator in the region with E-Jet capability, and a great way to celebrate our first 10 years of operations. The addition of the larger, more modern and capable E190 is the next step in our development and our offering to our customers. The E190 is the perfect aircraft to help manage demand in peak times, as well as to open and maintain the international routes essential for our continued development as a leading Caribbean operator.”

777 Partners Orders 30 Additional Boeing 737 MAX Airplanes

December 10, 2021 / WIL BALDWIN

Boeing [NYSE: BA] and 777 Partners have announced the Miami-based investment firm will nearly double its 737 MAX order book with the purchase of 30 additional jets. The new order expands 777 Partners’ commercial aircraft portfolio to a total of 68 737 MAX’s, in its fourth order this year for the fuel-efficient, single-aisle jets. Valued at $3.7 billion at list prices, the order will enable 777 Partners to expand 737 MAX operations across the fleet of its affiliated global low-cost carriers.

The 737 MAX family reduces fuel use and carbon emissions by at least 14% compared to the airplanes it replaces, reducing operating costs as well as the environmental footprint for 777 Partners’ affiliated airlines. Every 737 MAX features a passenger-pleasing Boeing Sky Interior, highlighted by modern sculpted sidewalls and window reveals, LED lighting that enhances the sense of spaciousness and larger pivoting overhead storage bins.

777 Partners is a Miami-based private alternative investment firm that invests across a number of high growth attractive verticals. Founded in 2015, 777 Partners initially applied its expertise in underwriting and financing of esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators, and financial technology/service providers. In recent years, the firm has broadened its mandate and now invests across six different industries: insurance, consumer and commercial finance, litigation finance, direct lending, media and entertainment, and aviation.

ITA Airways Firms Up Order for 28 Airbus Aircraft

December 1, 2021 / WIL BALDWIN

Toulouse, France, 1st December 2021 – ITA Airways, Italy’s new national carrier, has firmed up an order with Airbus (OTC: EADSY) for 28 aircraft, including seven A220’s, 11 A320neo’s, and 10 A330neo’s, the latest version of the most popular A330 widebody airliner. The order confirms the Memorandum of Understanding announced on 30th September 2021. In addition, the airline will pursue its plans to lease A350s to complement its fleet modernization.

These new Airbus aircraft will expand the initial ITA Airways fleet with a new generation aircraft with better environmental performance, equipped with latest technologies and state-of-the-art cabins to guarantee maximum operational efficiencies for the airline and the best comfort to travelers.

The A220 is the only aircraft purpose-built for the 100-150 seat market and brings together state-of-the-art aerodynamics, advanced materials and Pratt & Whitney’s latest-generation geared turbofan engines. With a range of up to 3,450 nm (6,390 km), the A220 gives airlines added operational flexibility. The A220 delivers up to 25% lower fuel burn and CO2 emissions per seat compared to previous generation aircraft, and 50% lower NOx emissions than industry standards. In addition, the aircraft noise footprint is reduced by 50% compared to previous generation aircraft – making the A220 a good neighbour around airports.

The Airbus A330neo is a true new-generation aircraft, building on features popular for the A330 Family and developed for the latest technology A350. Equipped with a compelling Airspace cabin, the A330neo offers a unique passenger experience with the latest-generation in-flight entertainment systems and connectivity. Powered by the latest Rolls-Royce Trent 7000 engines, and featuring a new wing with increased span and A350-inspired winglets, the A330neo also provides an unprecedented level of efficiency – with 25% lower fuel-burn per seat than previous-generation competitors. Thanks to its tailored mid-sized capacity and its excellent range versatility, the A330neo is considered the ideal aircraft to support operators in their post-COVID-19 recovery.

China Airlines Becomes New Operator of Airbus A321neo

November 30, 2021 / WIL BALDWIN

Taipei, 30 November 2021 – China Airlines (CAL) has become the latest operator of the A321neo, following the delivery of its first aircraft of the type, on lease from Air Lease Corporation (ALC, NYSE: AL).

The aircraft operated with a blend of sustainable aviation fuel (SAF). SAF provides a reduction of up to 80% in carbon emissions over its lifecycle, compared to traditional jet fuel.

The aircraft is powered by Pratt & Whitney PW1100G engines and seats 180 passengers in a two-class layout. The A321neo incorporates the Airbus Cabin Flex, which enables optimal use of space by relocating various fixtures and fittings, providing the highest levels of passenger comfort.

CAL’s A321neo will be able to fly on routes of up to seven hours from Taipei.

CAL’s A321neos also come with a Cargo Loading System that enables container cargo operations, further reinforcing the airline and Taipei’s position as a global air freight hub.

Altogether CAL will acquire 25 A321neo aircraft, comprising 11 directly ordered from Airbus and 14 under lease agreements. The A321neo will form the core of CAL’s single-aisle fleet and offers cockpit commonality with CAL’s existing A330 and A350 aircraft.

The A321neo is a member of the A320neo Family, which offers the widest single-aisle cabin in the sky and incorporates the latest technologies, including new-generation engines and Sharklets, delivering a 20 per cent reduction in fuel consumption per seat.

At the end of October 2021, the A320neo Family had won more than 7,500 firm orders from over 120 customers worldwide.

KiwiRail Leases Additional Ferry to Boost Interislander Service

November 6, 2021 / WIL BALDWIN

KiwiRail has leased an additional freight ferry to provide capacity and resilience on Cook Strait, KiwiRail Group Chief Executive Greg Miller announced today. The Valentine is completing technical due diligence in England now, ahead of sailing to New Zealand. It is due to arrive in mid-December and Interislander crews will familiarize themselves with the ship before Valentine begins working the Cook Strait, likely later in December.

Mr Miller said the Interislander fleet is aging and more prone to breakdown. “Old ships tend to have mechanical problems and this has been highlighted with the current mechanical issues on Aratere. While she has now resumed service, we know that disruption is bad for us and our customers.

The Valentine is being leased for an initial 12 months. Valentine has been working in the English Channel and is well-suited to KiwiRail operations.

Mr Miller says the move shows KiwiRail’s determination to support the movement of essential supplies in New Zealand through increased capacity, collaboration, and improving scheduling and resource planning.

Air Transport Services Group Selects Boeing for Next Converted Freighter Order

November 3, 2021 / WIL BALDWIN

SEATTLE, Nov. 3, 2021 — Air Transport Services Group, Inc. (Nasdaq: ATSG), the world’s largest lessor of 767-300 converted freighters, has contracted with Boeing [NYSE: BA] for the conversion of four aircraft to 767-300 Boeing Converted Freighters (BCF).

“Our continued confidence in the 767-300 platform, now coupled with the services and support of the OEM, reinforces our commitment to deliver best-in-class reliable services to our customers,” said Mike Berger, chief commercial officer of ATSG. “We’re proud to partner with Boeing as we expand our fleet to meet growing demand and look forward to future growth together.”

The 767-300BCF now has more than 100 orders and commitments from customers around the globe, providing widebody converted freighter capability to meet growing market demand, and building on a record year for customer orders of Boeing’s family of freighters.

“We are honored that ATSG has decided to make the 767-300BCF an integral part of their fleet expansion strategy, supporting customers looking to capitalize on strong e-commerce demand,” said Jens Steinhagen, director of Boeing Converted Freighters. “As the OEM, Boeing has the original design data, robust supply chains, and dependable delivery schedules that benefit BCF customers such as ATSG. With that OEM advantage, we stand ready to meet ATSG’s needs by bringing forward market-leading 767-300BCFs into its fleet.”

ATSG is a global leader in cargo leasing, operating a fleet of 106 Boeing aircraft, including more than ninety 767 converted freighters.

Boeing has more than 40 years of successful experience in passenger-to-freighter conversions, relying on original design data and a deep understanding of the needs of the air cargo industry to deliver a superior, integrated product, including fully integrated manuals and world-class technical support. Boeing Converted Freighters also come with the advantage of being associated with the industry’s largest portfolio of services, support and solutions. Learn more about the 767-300BCF and the entire Boeing freighter family here.

A.P. Moller, Maersk Orders Two Boeing 777 Freighters

November 2, 2021 / WIL BALDWIN

COPENHAGEN, Denmark, Nov. 2, 2021 /PRNewswire/ — Boeing [NYSE: BA] and A.P. Moller – Maersk (Maersk) today announced the global provider of end-to-end container logistics has placed an order for two 777 Freighters. The freighters will be operated by Star Air, Maersk’s in-house aircraft operator and is the company’s first 777 order. Star Air currently operates an all-Boeing 767 Freighter fleet.

The 777 Freighter is the world’s largest, longest range and most capable twin-engine freighter. The airplane offers 17 percent better fuel efficiency and reduced CO2 emissions compared to legacy airplanes. With a range of 9,200 kilometers, the 777 Freighter can carry a maximum revenue payload of 102,000 kilograms, allowing Star Air to make fewer stops and reduce landing fees on long-haul routes.

The 777 Freighter is Boeing’s top-selling freighter of all time. Customers from around the world have ordered more than 300 777 Freighters since the program began in 2005. As the air cargo market continues to strengthen throughout the world, freight carriers turn to Boeing for its complete family of new and converted freighters. Boeing airplanes provide more than 90% of the worldwide dedicated freighter capacity.

Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As the global leader in shipping services, the company operates in 130 countries and employs approximately 80,000 people.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future and living the company’s core values of safety, quality and integrity. Learn more at www.boeing.com.

BBAM Orders 12 Additional 737-800 Boeing Converted Freighters

July 12, 2021 / WIL BALDWIN

Boeing [NYSE: BA] and BBAM Limited Partnership (BBAM) today announced that the lessor is expanding its 737-800 Boeing Converted Freighter fleet with 12 additional firm orders. The agreement brings BBAM’s 737-800BCF orders and commitments to 31 as e-commerce and express cargo markets continue to drive strong customer demand for freighters.

BBAM will be the first customer to have a 737-800BCF converted at Cooperativa Autogestionaria de Servicios Aeroindustriales (COOPESA), a Costa Rica-based maintenance, repair and overhaul (MRO) provider. In May, Boeing announced it would open two conversion lines at COOPESA in 2022.

In a separate deal announced in January, BBAM placed six firm orders and six options for the 737-800BCF. The 737-800BCF has won more than 200 orders and commitments from 16 customers.

BBAM is the world’s largest dedicated manager of investments in leased commercial jet aircraft providing over 200 airline customers in more than 50 countries with fleet and financing solutions over the last three decades, and the only significant manager in sector focused exclusively on generating investment returns on third party capital. With more than 500 aircraft under management, BBAM employs over 150 professionals at its headquarters in San Francisco and offices around the world, located in New York, London, Tokyo, Singapore, Zurich, Dublin and Santiago. BBAM is a full-service lessor and maintains its own in-house capabilities encompassing aircraft origination, disposition, lease marketing, technical maintenance, regulatory compliance, capital markets activity, tax structuring, legal, contracts and finance, for all asset types and strategies.

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