Willis Lease Finance and Mitsui & Co. form joint venture for jet engine leasing

Willis Lease Finance has entered into a joint venture agreement with Mitsui & Co., a major Japanese trading company, to acquire and lease IAE V2500-A5 and General Electric CF34-10E jet engines. IAE V2500 engines are used on the Airbus A320 family of aircraft and CF34-10E engines are used on the Embraer E190 and E195 aircraft. Willis Lease and Mitsui will each own 50% of the new joint venture. The new company, named Willis Mitsui & Co Engine Support Ltd., will be an Irish corporation with offices in Dublin. Initially the joint venture plans to acquire approximately $150 million in assets. Read more

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Spirit AeroSystems and Air Europa sign spare parts agreement

 Spirit AeroSystems and Air Europa Lineas Aereas, S.A.U announced the signing of a supply agreement whereby Spirit will supply thrust reverser, fuselage and wing components for Air Europa’s fleet of Boeing 737 and 767 aircraft. This multi-year contract will enable Air Europa to obtain predictable and competitive pricing for all spare parts in the Spirit catalog while ensuring availability for key parts and components. Air Europa currently operates 25 Boeing 737NG airplanes and two Boeing 767 airplanes

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GE Capital Aviation Services delivers two new Airbus A320s to Aeroflot

GECAS announced the delivery of two new Airbus A320s to Aeroflot Russian Airlines. The aircraft come from GECAS’ existing order book with Airbus. Aeroflot operates a fleet of nearly 100 aircraft to more than 100 destinations. The new A320s leased from GECAS are part of the airline’s multi-year fleet renewal program.

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Dniproavia signs with Embraer for 10 E-Jets

Embraer and Dniproavia, a member of the Ukrainian Aviation Group Alliance, came to an arrangement,regarding the delivery of ten EMBRAER 190s, with options for another five jets. The aircraft will be operated by Dniproavia, in cooperation with another alliance member, AeroSvit, and will be placed under a lease structure to be arranged by a third party. The total value of the deal, at list price, is $ 400 million, based on January 2010 economic conditions, and could reach $ 600 million if all options are confirmed. This value will be added to the current Embraer firm order backlog.

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New AerCap offices in Shannon

AerCap reported the opening of its new Irish offices in Westpark, Shannon, County Clare. AerCap currently employs 54 people in its Shannon Office with employee numbers having increased progressively in recent years. AerCap is headquartered in The Netherlands and has offices in Ireland, the United States, China, Singapore, United Kingdom and the United Arab Emirates.

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