Capital markets feature for quoted lessors
Air Lease Corporation extended its issuance of Senior Notes, due in 2017, from $500 million to $1 billion while AerCap was assigned an investment grade rating by Standard and Poor’s. On the equity investment front, Mitsubishi sold half its share in Jetstar to Century Tokyo Leasing and Fortress Investment Group announced that it will reduce its stake in Aircastle.

Norwegian Air Shuttle plans dynamic asset management
Norwegian Air Shuttle is setting out on a voyage that is composed of a complex and extensive aviation financing task while effectively quadrupling the size of its fleet. If Norwegian can successfully dispose of its existing fleet at a profit and massively expand its short and long haul footprints it will be a huge success story.

Lower yields on outstanding issuance encouraging for lessor issuance in 2012
A rally in the unsecured debt of lessors has paved the way for increased capital market activity by leasing companies to fill the funding gap left by banks that are reticent to lend.

Doric-like structures for Boeing 787s?
Aviation Finance looks at a proposal for the use of a Doric-like structure to provide a financing infrastructure to support the future of the Boeing 787 (ZA003). This structure could provide a leasing model that addresses issues of complexity and transparency for investors.

RBS deal likely to sharpen investor focus on modern generation portfolios says JP Morgan
Analysts at JP Morgan have released an assessment of the aviation leasing industry, hot on the heels of the Initiation Research Report by Morgan Stanley, referenced in the last issue of Aviation Finance. The JP Morgan report says that the RBSA-Sumitomo deal 'is a positive for the sector'.

Leasing can provide an attractive investment opportunity for long-term equity investors: Forsberg.
The aviation leasing sector can provide an attractive investment opportunity for long-term equity investors looking to achieve steady risk-adjusted equity returns while participating in the growing global aviation business writes Avolon's DICK FORSBERG.

AWAS's owner looks east for fourth Terra Firma Capital partners fund
July 3rd 2011: Guy Hands' Terra Firma Partners, owner of Dublin headquartered AWAS, is reported to be looking to the Middle East and Asia for new investors in Terra Firma Capital Partners Funds (TFCP IV), the fourth fund the former Goldman Sachs trader, and Nomura banker, has launched.

Fears of aircraft overproduction highlighted as lessors repossess planes
AerCap chief executive Aengus Kelly warned against the overproduction of aircraft this month when he questioned the viability of huge orders made by small airlines. Another point of interest was Oaktree Capital Management's move to sell its majority stake in Jackson Square, which comes at an interesting times given the state of commercial lending but also the strength of the RBSA sale and IPO of Air Lease.

Helicopter leasing firms in growth phase
The helicopter leasing sector has seen several recent developments as Lease Corporation International placed a substantial helicopter order with AgustaWestland for their new helicopter division and Milestone, the helicopter financing company, announced several large orders notably with Eurocopter. ICBC Leasing and ALAFCO also signed large Airbus orders, COMAC, the Chinese manufacturer, secured more contracts for its hotly-anticipated C919 and rating agencies assessed ILFC's €900 million secured term loan.

January sees new year begin with positive resolve
Despite uncertainties, a mood of innovation characterises transactions in all regions. ILFC expands Asian presence; Waha's activity strong, despite a dive in earnings; Qantas deals with downgrade; GECAS expands ATR business; Etihad seals engine sale; EADS and Airbus looks to US production, as AMR seeks 20 p.c. wage bill cut, in next round of its financial restoration.

Wider variety of financing options sees lessor portfolios reaching a size that suits a securitisation model
Airlines and lessors seeking finance are exploring less traditional forms of funding, said Maples' partner David Maughan in conversation with Aviation Finance. Maughan chaired a European airlines' panel discussion at the Airfinance European Air Finance Conference in Dublin on January 25th and spoke about the panel contributors' identification of a wide variety of financing opportunities, for instance that lessor portfolios have reached a size that suits a securitisation model. Contributors also focused on growing competition in the Asian market.

Equity value destruction creates a “major hurdle” for airlines Aviation Finance's Gill tells World Low Cost Airlines Congress in London
'Airlines have a poor record in creating shareholder value' according to Aviation Finance's JOE GILL in a speech at the World Low Cost Airlines Congress in London on September 21st. In a review of stock market performance over the past fifteen years Gill argues that global airlines have consistently generated returns on invested capital that were below those of their cost of capital. This value destruction creates a “major hurdle” for airlines seeking equity investors, he said.

Aircraft leasing opportunities as consolidation brings public and private equity into play
Ireland's buoyant aircraft leasing sector faces huge challenges and opportunities simultaneously, as the world of aviation finance sees seismic shifts in the wake of the global credit crunch.

Avolon adds nine new airlines to its customer list, focussed in MEA-Pac
June 14 2011:Irish lessor Avolon has added nine airlines to its customer list by announcing 26 leases in the Asia-Pac and Middle East regions. This brings the group’s committed fleet to 80 jets of which 47 are A320s and 29 B737-800s (it has 3 A330s and 1 B777 too).