- Latest edition November 27th: Solid business in Dubai
- Latest edition November 13th: Headwinds and tailwinds
- Latest edition October 30th: Quarterly reports show strength of market
- Latest edition October 16th: ABS issuance has a strong start to Q4
- Latest edition October 2nd: ABS issuance fully regains early year momentum
- Latest edition September 18th: Insurers can't appeal London judgement in Russia 'stranded assets' case
Leasing Business SMBC Aviation Capital sees strong demand for bond offering
Leasing Business Avolon leads the leasing activity in DubaiThe lessor announced a number of deals during the Dubai Air Show at Dubai World Central including an order for 100 LEAP-1A engines from CFM International and a 13 aircraft deal with Etihad. Macquarie, CDB Aviation, AerCap, CALC, BOC Aviation and ICBC Leasing were also amongst the deals. Airline Finance Landing slot-backed financing a milestone for Virgin AtlanticThe recently completed financing between Virgin Atlantic and alternative investment giant Apollo has been described as a 'milestone' for the airline which allows it to strengthen its balance sheet and invest in its widebody fleet. The groundbreaking asset-backed deal sees the airline unlock significant financing using its take-off and landing slots at London's Heathrow Airport. |
In this issue In this issueThere was good business done by the two aircraft OEMs at the Dubai Air Show with strong orders for widebodies with the Boeing 777 leading the way by value. We look at this activity, as well as the business announced by the aircraft lessors during the event. We also look at the latest financing innovations with Virgin Atlantic's 'milestone' financing backed by landing slots and the markets verdict on SMBC Aviation Capital's involvement in the take-private of Air Lease, as seen through its latest, successful bond issuance. Airline Business Solid order business conducted at Dubai Air Show
Aircraft ABS 2025 Aircraft ABS issuance approaching $10 billionThe strong return of the aircraft ABS market has seen combined issuance of almost $10 billion across 15 deals, including three loan deals while two issuers, Castlelake and Carlyle, issued three aircraft-backed ABS deal each this year and another, Griffin Global Asset Management, the latest new entrant in the market. |
SMBC Aviation Capital has successfully closed a $750m senior unsecured bond offering which was the lessor's 11th bond issuance since it debut 9 years ago. This is the lessor's second bond deal of 2025 having closed a $500m 5 year bond deal in April. However, this latest deal was the lessor's first capital markets move since the takeover of Air Lease Corporation was announced in early September and the investor demand for the 10-year bond offering points to positive market sentiment in that deal, which will see Sumitomo Corporation and SMBC Aviation Capital being joined by asset managers Apollo and Brookfield in acquiring Air Lease.
The final industry set piece of 2025 saw the global aviation world descend on the United Arab Emirates for the Dubai Air Show (15-19th November) where, as expected, Gulf carriers dominated the order announcements coming out of Dubai World Central. Leading the way was flydubai who signed MoUs with Airbus and Boeing for up to 300 narrowbody aircraft, while Gulf flag carriers also added to their widebody order books with the Boeing 777 leading on widebody activity, followed closely by the Airbus A350.