December 2005

SETTING THE RECORD STRAIGHT 01 December 2005

Maintenance records are often neglected and dismissed as a technical issue by aircraft financiers, but how many have considered what their aircraft is worth without them. Alexandra Cain reports.

CAPE TOWN REVISITED 01 December 2005

Eight countries have ratified the Cape Town Convention, which will be implemented in March. Victoria Pennington speaks to some of the people who made it happen.

BEST OF BRITISH 01 December 2005

UK banks remain a force in the aviation finance market in the face of growing European competition. Three of the UK's most prominent bankers shared their views in a roundtable discussion.

FROM DUBAI TO DUBLIN 01 December 2005

Aer Lingus has transformed itself significantly over the past few years and this is set to continue under new CEO Dermot Mannion. Andrew McGuinness reports.

IRELAND – A LESSOR'S DREAM 01 December 2005

The American Jobs Creation Act of 2004 created about 450 amendments to the Internal Revenue Code, but one change in particular has potentially far-reaching consequences for US aircraft lessors. Garry Burke, chief executive officer of Pembroke Capital, reports.

More SOLs on the horizon for Iberia's three A340-600s 01 December 2005

Iberia has three A340-600s due for delivery in 2006 and is hoping to finance them using Spanish operating leases (SOLs). Other Spanish banks are keen emulate the success of Caja Madrid and Royal Bank of Scotland, which arranged the first SOL for Iberia in September.

Natexis Transport Finance closes its first transaction with JOL for 737-800 01 December 2005

A Japanese operating lease (JOL) for one Air Europa 737-800 was one of the first transactions closed by Natexis Transport Finance (NTF), the new subsidiary bank of Natexis Banques Populaire, that focuses solely on air finance

Air Canada closes $400 m regional deal 01 December 2005

Air Canada has financed 18 Embraer 190s, worth about $400 million, with a 15-year secured loan.

BCI acquires aircraft 01 December 2005

Babcock & Brown closes warehousing facility 01 December 2005

Babcock & Brown Aircraft Management (BBAM) has arranged a $1.2 billion warehousing facility to fund aircraft acquisitions

Burke leaves Willis after over three years service 01 December 2005

Monica Burke, chief financial officer of Willis Lease Finance, has decided to leave the company in January 2006. Robert Warwick, director of finance, will take over her position.

THY' mandate delayed 01 December 2005

There are 11 banks bidding for THY Turkish Airlines' mandate to provide financing for 22 A330s, A321s, A320s and 737-800s. Even though the request for proposals was issued in March, THY's Boeing deliveries have been delayed because of the machinists' strike, and the airline is taking its time to make a final decision on the Airbus aircraft.

AirNZ closes joint export credit deal and mandates JOL 01 December 2005

Air New Zealand (AirNZ) has closed an export credit financing for two 777-200ERs and a spare Rolls-Royce Trent 895 engine. BNP Paribas was sole mandated lead arranger.

The man who ordered 10 new Russian Jets 01 December 2005

There were lots of orders at the Dubai Airshow, but one letter of intent was far more intriguing than the others. On the fourth day of the show, by which time many journalists and exhibitors had left, Sukhoi, the Russian aircraft manufacturer, announced a $500 million order for 20 Russian Regional Jets (RRJ), with a further 20 options.

Calyon and SG lease structure wins CEA mandate 01 December 2005

Transmile raises debt as ratings drop 01 December 2005

Transmile Air, the Malaysian freight, air cargo and aircraft services company, has raised $115 million in five-year loans from mandated lead arranger HSBC. HSBC took $16 million.

ACG bonds get good reception in US and Europe 01 December 2005

Aviation Capital Group's (AGC) portfolio securitization priced in mid-December had been premarketed and were well received, particularly in the US and Asia. The total value of the issuance is $1.866 billion, the biggest lessor securitization since 1996. UBS Warburg is arranging the deal.

Four banks finance CSA 01 December 2005

Four banks were involved in the financing of the recently concluded lease between China Southern Airlines (CSA) and Singapore Aircraft Leasing Enterprise (Sale).

JOL market update 01 December 2005

By Robert E Melson, Jr & Hisao Hirose of Latham & Watkins.

Dubai Airshow roundup — LCAL takes Dubai by storm 01 December 2005

There were a few large orders announced at the Dubai Airshow this year, and while Low-Cost Aircraft Leasing's (LCAL) order for six 787s was not the biggest, it arguably was the most interesting.

November 2005

Round one: the race for Awas 01 November 2005

Awas has a very different portfolio to Boullioun, but there is no shortage of bidders. Alasdair Whyte looks at the contenders.

Financial Telecom takes over MK Aviation 01 November 2005

Debt financing for Pegasus 737-700 to close 01 November 2005

Moore triumphs in yacht race 01 November 2005

The new pegasus 01 November 2005

Pegasus Aviation is expanding and, with the help of Oaktree Capital Management and an ex-Boeing salesman, this will continue over the next decade. Victoria Pennington reports.

Kaupthing Bank and FL group form lessor 01 November 2005

Macquarie in bid for Copenhagen Airport 01 November 2005

Old before its time 01 November 2005

Bankruptcy meant that the Fairchild Dornier 328 Jet never really found a market, and with Delta parking aircraft, its value is unlikely to recover.