Embraer has announced today that it has signed Letters of Intent (LOIs) with five undisclosed airlines from Africa, Asia, Europe and Latin America for 65 orders for the E-Jets E2.

“These LOIs demonstrate the appeal of the E-Jets E2 to deliver the economics and performance airlines around the world need as they approach the next decade,” said Paulo Cesar Silva, President and CEO, Embraer Commercial Aviation. “These contracts will be finalized in the coming months and I’m looking forward to even more E2 orders from other airlines and leasing companies.”

The E-Jets E2 represent Embraer’s commitment to continuously invest in the company’s line of commercial jets and maintain its leadership in the 70 to 130 seats market. The three new airplanes (E175-E2, E190-E2, E195-E2) carry the designator “E2” which signifies generational changes in technology that have been incorporated in the design.  Each of the three aircraft has the versatility for a range of single class, multi-class or high-density seat capacities to suit operator requirements, with new ‘look and feel’ and improved comfort levels.

State-of-the-art engines in combination with new aerodynamically advanced wings, full fly-by-wire flight controls, and advancements in other systems will result in double-digit improvements in fuel burn, maintenance costs, emissions and external noise.

The first delivery of an E-Jets E2 (the E190-E2) is planned for the first semester of 2018. The E195-E2 is slated to enter service in 2019 and the E175-E2 in 2020. Over 950 E-Jets have been delivered to date. Currently, 65 customers from 47 countries have added Embraer E-Jets to their fleets.

Apollo Aviation Group (Apollo Aviation), an international full service aviation asset manager, has contracted to acquire flight equipment valued at more than $220 million in the first five months of 2013, including two A320 CEO family aircraft, one A330-200, one A330-300, seven B737NGs, and seven engines.  Ten of these aircraft are on lease to airlines in Asia, Europe and North America.  As of May 31, 2013, Apollo Aviation managed a total of 76 leased aircraft and engines.

The acquisitions are all being made on behalf of SASOF II, which is an investment fund with approximately $595 million in capital commitments that seeks to acquire mid-life in-production aircraft models for lease or immediate disassembly and resale of the systems, components and parts.  SASOF II is managed by wholly-owned subsidiaries of Apollo Aviation.  As of May 31, 2013, SASOF II had committed to acquire a further 25 aircraft and ten engines. 

William Hoffman, Apollo Aviation’s Chairman commented, “Apollo Aviation continues to acquire favorably priced in-production aircraft models.  Through our investment vehicles, we are becoming a significant lessor of mid-life in-production flight equipment.”

International Lease Finance Corporation (ILFC) has signed a letter of intent, subject to final agreement, for the purchase of 50 E-Jets E2 aircraft from Embraer, including 25 E190-E2 and 25 E195-E2. The deal also includes options for an additional 50 aircraft, and marks the introduction of the E-Jets Family to the company’s diverse aircraft fleet.

“The addition of the E-Jets E2 to our fleet is an exciting prospect, and we look forward to developing our relationship with Embraer,” said ILFC Chief Executive Officer Henri Courpron.

“We are constantly listening to our customers with the objective of executing on our commitment to offer the most suitable air craft for their needs. These new aircraft would bring value and operational efficiencies to our customers and further position ILFC as the most responsive and resourceful aircraft lessor today.”

“The ILFC’s order demonstrates the huge potential the company sees in the market and this airplane family,” said Paulo Cesar Silva, President and CEO, Embraer Commercial Aviation.

“We thank ILFC for becoming a new E-Jets customer and for endorsing the E2 program. As the launch customer for the E2, among leasing companies, ILFC’s global footprint and its diversified operator base will ensure access of even more airlines around the world to the airplanes.”

Deliveries of the new aircraft are expected to begin in January 2018 and complete in 2023. The E-Jets E2 are configured with new aerodynamically advanced wings, new engine, full fly

-by-wire flight controls, and advancements in other systems, which will result in double-digit improvements in fuel burn, maintenance costs, emissions, and external noise.

AIG extends deadline for sale of ILFC and removes exclusivity agreement

In an SEC filing, American International Group, Inc. (AIG) announced that it entered into an amendment on June 15, 2013 of the share purchase agreement for International Lease Finance Corporation (ILFC) by Jumbo Acquisition Limited dated as of December 9, 2012,

“The Amendment extends by one and a half months, to July 31, 2013, the date on which any of AIG, Seller or Purchaser may terminate the Share Purchase Agreement if the closing of the Transaction has not yet occurred. Under the Amendment, AIG and Seller may pursue (but not enter into definitive documentation for, or consummate) other offers for ILFC and may continue to pursue (but not engage in widespread solicitation of orders for, or request effectiveness of) the alternative of a public offering. Under the Amendment, AIG or Seller may terminate the Share Purchase Agreement prior to July 31, 2013 if AIG reasonably determines in good faith that closing conditions relating to regulatory matters would not be satisfied by July 31, 2013. The Amendment also amends to July 15, 2013 the date by which the Purchaser may deliver the Option Notice (as defined in the Share Purchase Agreement) to AIG and Seller.”

ILFC has signed a firm contract for the purchase of 50 additional A320neo Family aircraft. The contract was announced today at the Paris Air Show by ILFC Chief Executive Officer, Henri Courpron and John Leahy, Airbus Chief Operating Officer, Customers.

ILFC was the first lessor to commit to the A320neo Family with a firm order placed in 2011 for 100 aircraft.  With this latest order, ILFC increases its total firm NEO order tally to 150. ILFC will make its engine selection for the aircraft at a later date. Including this latest contract, ILFC remains Airbus’ largest customer, having ordered a combined total of 769 single-aisle and widebody Airbus aircraft.

“The A320neo is firmly established as a long-term cornerstone of ILFC’s portfolio of modern, fuel efficient aircraft. The NEO allows ILFC to offer its customers a single-aisle aircraft family that delivers a significant reduction in fuel consumption and the widest, most comfortable cabin in its class,” ILFC Chief Executive Officer Henri Courpron said. “We have already seen significant market interest in the NEO and that is why we have come back for more. We must be ready to deliver the product that airlines want and that will enable them to take advantage of the significant growth air transport will see over the coming years.”

“We are delighted to see our valued and long-standing customer ILFC coming back for more A320neo aircraft. This is clear signal of the continuing strong demand for Airbus’ most modern, fuel efficient aircraft which day in, day out, deliver profitability to their owners and a great travel experience to the passengers,” said John Leahy, Airbus Chief Operating Officer, Customers. “With a portfolio of 150 A320neo’s at ILFC, we can take that as a strong confirmation of the NEO’s market leading position.”

FLY Leasing has acquired two Boeing 737-800 aircraft, both manufactured in 2013. The aircraft are on ten-year leases to leading carriers in the United States and in China. The acquisitions were financed with a combination of FLY’s unrestricted cash and its aircraft acquisition facility.

“FLY has now acquired three 2013 vintage B737-800s this year, bringing our total B737 Next Generation aircraft to 40 and our total fleet to 103 aircraft,” said Colm Barrington, CEO of FLY. “We are focused on growing our fleet with young and modern commercial aircraft that are in strong demand from our airline customers world-wide. FLY is now well on its way to meeting its growth target of up to $500 million of aircraft acquisitions in 2013.”

GE Capital Aviation Services (GECAS) has announced a commitment to order 10 787-10X Dreamliners.

“We have studied the capabilities Boeing is developing for the 787-10X and anticipate strong demand from our airline customers for this airplane,” said GECAS President and CEO Norman C.T. Liu. “The 787-10X will be a perfect complement to our broad portfolio of modern, fuel-efficient aircraft offering the lowest operating costs in the market.”

Boeing has been working closely with airline and leasing customers to define the key capabilities and features of 787-10X, which would be the third and largest member of the 787 family. The 787-10X under consideration would add approximately 15 percent passenger capacity over the 787-9 with superior fuel efficiency to serve medium and long-haul markets.

“As a leader in commercial airplane leasing and financing, GECAS enjoys an outstanding reputation and its influence is substantial,” said Boeing Commercial Airplanes President and CEO Ray Conner. “When GECAS makes a decision about how to build its fleet, the industry takes note. Its commitment to the 787-10X is a strong statement about the capabilities of this highly efficient airplane.”

Once finalized, these 787s will bring the total number of airplanes GECAS has ordered from Boeing to 598 since 1995, including 737s, 747s, 757s, 767s and 777s. To date, GECAS has taken delivery of 444 of the airplanes.

Doric Lease Corp has signed a Memorandum of Understanding (MoU) for the purchase of 20 A380s at the 50th Le Bourget Airshow. The agreement was signed today by Mark Lapidus, CEO of Doric Lease Corp and John Leahy, Airbus Chief Operating Officer, Customers.

With this investment, Doric will offer a tailored A380 leasing solution and will make the aircraft even more accessible to both new and existing A380 operators around the world who prefer to opt for the flexibility of an operating lease. Doric already has significant experience with the A380, ranking as the third largest wide-body lessor worldwide by value, and the world’s largest asset manager of leased A380s. Doric has a six billion US$ aircraft portfolio under management, including 18 A380s acquired through sale-leaseback arrangements.

“The A380 offers us a unique opportunity to continue growing Doric’s aviation platform by establishing ourselves as a lessor with a forward-order portfolio of 20 A380s to market with existing and new customers worldwide,” said Mark Lapidus, CEO of Doric Lease Corp. “We will be able to provide turn-key A380 ownership solutions to airlines, allowing them to benefit from operating this fantastic aircraft. The A380 offers airlines a great opportunity to provide a superior product and travel experience while strengthening revenue generation. We are delighted to be part of the long term success of the A380.”

“The A380 is moving into a new chapter, with more and more airlines around the world enjoying the benefits of its unrivalled passenger appeal and powerful revenue and growth generating capability. Airlines are waking up to the fact that if they want to stay ahead of the game, the only way is with the A380 in their fleets,” said John Leahy, Airbus Chief Operating Officer, Customers. “We are delighted that with Doric, airlines around the world will now have more flexibility in bringing the A380 into their operations while being equipped to capture the growth opportunities we are seeing as the global economy recovers.”

Doric’s shareholders have expanded Doric’s existing business with the launch of Doric Lease Corp (“DLC”), an operating lessor company based in Dublin, Ireland.

DLC will focus its activities in the widebody aircraft leasing sector acting in a principal investment capacity. DLC’s strategic business focus will include aircraft acquisitions, sale and leaseback transactions, and arranging of discrete aircraft investments for companies such as those listed on the London Stock Exchange.

Doric remains focused on its fund management business for transportation, energy and real estate assets.

Mark Lapidus has been appointed as the Chief Executive Officer of DLC, with Sibylle Paehler joining the board of Doric. Paul Kent will become the Chief Commercial Officer of DLC.

“Together these Doric platforms will create a significantly enlarged business opportunity envelope for airline customers and will now include principal investments, in addition to UK listed company offerings with institutional investors, German KG distribution, as well as the continuing development of new investor jurisdictions,” said Mark Lapidus, CEO of DLC.

Jet Airways has returned one of its three of its previously parked A330-200s to active service on wet lease to Etihad Airways. The A330-200 will operate daily services from Abu Dhabi to Moscow Domodedovo and Mumbai on behalf of Etihad replacing A320-200s previously used on the two routes.

GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing and financing arm of GE, announced it has delivered seven new leased Boeing 737-800s to Scandinavian Airline Systems (SAS) to expand and modernize the carrier’s fleet.

The aircraft were delivered during the period April 2012 to May 2013 and came from GECAS’ existing order book with Boeing. Additionally, GECAS is scheduled to deliver two new leased 737-800s to SAS in 2014.

SAS, the flag carrier for Denmark, Norway and Sweden, operates a fleet of some 130 aircraft to approximately 100 destinations.