Aircastle buys 20 narrowbodies from SMBC Aviation Capital; Aviation 100 Middle East, Africa & Islamic Award winners

Eleanor Steed
By Eleanor Steed October 4, 2017 11:07

Aircastle buys 20 narrowbodies from SMBC Aviation Capital; Aviation 100 Middle East, Africa & Islamic Award winners

Yesterday, Aircastle agreed to acquire 20 narrow-body aircraft from SMBC Aviation Capital, which are on lease with thirteen airlines across the globe. The purchase price was not disclosed but they may have been sold with a premium due to the leases being attached and Aircastle’s assumed desire to quickly increase its portfolio over the 200 aircraft strong threshold to be considered investment grade by the credit rating agencies, according to the most recent note from Cowen & Company’s Helane Becker.

Mike Inglese, Aircastle’s CEO, said that the purchase of these “high-quality aircraft on lease to a geographically diverse group of airlines” demonstrates unique ability to find attractive growth opportunities throughout the cycle. Adding: “By continuing to execute our prudent, disciplined investment strategy and maintaining significant financial flexibility, Aircastle is well positioned to achieve steady and profitable growth.”

Peter Barrett, CEO, SMBC Aviation Capital said that this agreement with Aircastle was testament to the quality of its portfolio and the company’s ability to handle transactions of scale.

Aircastle is expected to continue to seek more aircraft acquisitions since it does not have an orderbook with the OEMs, save for Embraer for the E2s.

Last night at the Airline Economics Aviation 100 Middle East, Africa and Islamic Awards gala dinner, the main winner of the evening was DAE, which was celebrated for its purchase of the AWAS platform, which vaulted the company into the top echelons of aircraft lessors. In recognition of this tremendous achievement, the company was furnished with a multitude of awards included MEA Lessor of the Year, MEA M&A Deal of the Year, MEA Overall Deal of the Year for the acquisition financing, while chief executive Firoz Tarapore was again named as the CEO of the year for the region for 2017, with the rest of the treasury team and the CRO also recognised for their achievements.

The full list of winners is below, with the full report from the event and of each of the awards are detailed in the next issue of Airline Economics, which will be released next week.

Congratulations to every one of the winners last night and a thank you to our sponsors and all in attendance who raised almost $4000 for Airlink with their generous pledges.

MEA Aviation 100 Award Winners
Middle East & Africa Airline of the Year
Ethiopian Airlines

Middle East & Africa Lessor of the Year
Dubai Aerospace Enterprise

Middle East & Africa Bank of the Year
First Abu Dhabi Bank

Middle East & Africa Law Firm of the Year
Allen & Overy

Middle East & Africa Editor’s award for Innovation
Stellwagen Group A320 loan fund financing for DAE on lease to Egyptair

Middle East & Africa Lease Deal of the Year
Emirates sale-leaseback of one A380 with Veling

Middle East & Africa Islamic Deal of the Year
Etihad Airways $1.5bn Sukuk

Middle East & Africa Equity Deal of the Year
flydubai JOLCO for one 737Max8

Middle East & Africa M&A and Debt Deal of the Year
Dubai Aerospace Enterprise’s acquisition and financing of AWAS

Middle East & Africa Capital Markets Deal of the Year
Falcon Aerospace Asset Backed Securitisation

Middle East & Africa Airport Deal of the Year
Dubai Airports $3.0bn Debut Financing

Middle East & Africa CEO/Industry Leader of the Year
Firoz Tarapore, CEO, Dubai Aerospace Enterprise

Middle East & Africa CFO/Treasury Team of the Year
Dubai Aerospace Enterprise CFO and Treasury Team

Middle East & Africa Overall Deal of the Year
Dubai Aerospace Enterprise’s acquisition and financing of AWAS

The Aviation Industry Talent Squeeze
Skilled individuals are in high demand across the spectrum of aviation companies from airlines, to lessors and financial institutions. Airline Economics Research is again conducted a survey into the main themes in aviation recruitment for the past 12 months. The results will be revealed at the Growth Frontiers Dublin 2018 event held at The Shelbourne in Dublin in January 2018. Cast your vote here

Where does your company rank?
Airline Economics Research has launched a new survey that tests which companies immediately spring to mind in several categories, including: engine leasing, component leasing, non-OEM pool services, the top aircraft, engine and parts traders, as well as third-party support for each aircraft type.

This is a very short survey (at most 5 minutes) and completion of it counts towards your tally of five completed surveys to be in the draw to win a free pass to either our Dublin or Hong Kong Growth Frontiers Conference including two complimentary hotel nights in the conference hotels (The Shelbourne in Dublin and the Hyatt in Hong Kong).

Click on the link to vote: www.research.net/r/IndustrialMarketing

Eleanor Steed
By Eleanor Steed October 4, 2017 11:07