Category: Financial

Boeing has entered into an agreement to acquire California-based EnCore Group, an aerospace interiors company that designs, certifies and produces airplane galleys and seats for airlines and also supplies products and components to Boeing. Boeing’s acquisition of EnCore Group will strengthen internal capabilities and increase innovation within its cabin vertical in order to provide greater end-to-end value to airline customers—from increased options and better products to improved capacity and availability. The acquisition includes the entire company including EnCore Interiors, EnCore International and LIFT by EnCore. Boeing previously partnered with LIFT by EnCore on the launch of its Tourist Class Seating, Read more

AerCap’s Board of Directors have approved a share repurchase program authorizing total repurchases of up to US$200 million of AerCap ordinary shares through December 31, 2019. Repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable U.S. federal securities laws. The timing of purchases and the exact number of ordinary shares to be purchased will be determined by the Company’s management, in its discretion, and will depend upon market conditions and other factors. The program will be funded using the Company’s cash on hand and cash generated from operations.

Independent jet engine lessor Willis Lease Finance has expanded its US$890 million revolving credit facility to US$1.0 billion. The facility has a 5-year term and is structured with the flexibility to support WLFC’s growing business. Willis Lease and its subsidiaries will use the expanded credit facility to continue growing its lease portfolio, which included nearly US$2.0 billion of owned and managed assets as of March 31, 2019. The US$1.0 billion revolving credit facility has a US$300 million accordion feature allowing for expansion up to US$1.3 billion. The facility is provided by a syndicate of seventeen banks including: MUFG Bank, Ltd./MUFG Read more

Aircraft leasing company SMBC Aviation Capital, has posted its results for the financial year ended March 31, 2019. The company reported profit before tax of US$344 million for the financial year, an increase of almost 8% year over year and overall income of US$1.1 billion from continuing operations. SMBC has reported the placement of 47 aircraft from its order book, the sale and leaseback of 40 aircraft and the sale of 30 aircraft. New technology aircraft now comprises 37% of its portfolio up from 22% in 2018 and 11% in 2017. Total aircraft assets stood at US$11.9 billion (up from Read more

GTLK Europe, an Ireland-based international company, engaged in leasing and trading of a wide range of air and sea vehicles, has refinanced three 2015 vintage Boeing 777-300ER aircraft, all subject to long term leases with Aeroflot. The facility was underwritten by DVB Bank SE, PK AirFinance, a GECAS Company, Credit Agricole CIB, The Korea Development Bank and NEC Capital Solutions Limited. PK AirFinance acted as Agent and Security Trustee of the facility.