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Aviation Capital Group Announces Delivery of One A320neo to Viva Air
March 12, 2021 GMT
Aviation Capital Group Announces Delivery of One A320neo to Viva Air (Photo: Business Wire)
NEWPORT BEACH, Calif. (BUSINESS WIRE) Mar 11, 2021
Aviation Capital Group LLC (“ACG”), a leading aircraft asset manager, announced today the delivery of one new Airbus A320neo aircraft on long-term lease to Viva Air. This aircraft, featuring CFM International LEAP-1A engines, is the fifth A320neo to deliver to Viva Air as part of a multi-aircraft transaction between ACG and the airline.
Aviation Capital Group Announces Delivery of One A320neo to Viva Air yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
$8.0bn
“The portfolio value is our indicative market value and is significantly lower than the reported deal value since it considers only the half-life value of the asset in today’s market which of course is significantly depressed at present.
“The attached leases will significantly enhance the value of the GECAS portfolio, albeit the $30 billion being reported is still much lower than the $40 billion Bloomberg reported last year when Apollo Global Management was exploring buying GECAS for up to $40 billion.
“By merging (or AerCap acquiring GECAS), it will create a mega-lessor with a global portfolio which is 16% of the entire passenger jet leasing portfolio (or 15% by value). AerCap presently has 159 airline customers, GECAS 176,” says Morris, adding: “Only 69 are common so the combined entity would have 266 airline customers.”
By Reuters Staff
2 Min Read
PARIS (Reuters) - Aircraft leasing faces its biggest shake-up in almost a decade, after the top two players AerCap and General Electric’s GECAS announced a $30 billion tie-up.
FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the site of the company s energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler
AerCap’s acquisition of its smaller rival creates an industry titan with 2,608 planes under ownership or management or on order - compared with 856 at next-ranked Avolon’s, according data from aviation consulting firm IBA.
Here is the global ranking of aircraft lessors by fleet:
By Cirium2021-02-24T16:07:00+00:00
Norwegian continues to make progress in settling leases and other contracts with creditors under its Irish restructuring process, but faces opposition from some parties.
In an Irish High Court hearing on 23 February, Norwegian’s representative Brian Kennedy said that the creditors it was dealing with fell into five groups: those with whom Norwegian has agreed to withdraw its repudiation applications; those with agreements to which court orders apply; those with which the airline has nearly settled or is engaged in discussions to settle and withdraw in the coming days; those that Norwegian is proceeding against but that have not opposed or indicated opposition to the applications; and, “most significantly”, those “actively opposing” the application.