newstodate.aero
May 11, 2017 (newstodate): The imminent crash of Alitalia as the probable end of a series of aborted relief efforts will have repercussions in the aviation industry.
One issue will be the situation around the carrier's aircraft fleet as lease contracts are abrogated.
One case concerns the Danish aircraft leasing company Nordic Aviation Capital that currently has 11 Embraer aircraft on lease to Alitalia.
NAC currently has exposure to Alitalia as a general lessor as well as via the two securitization transactions it manages, ATLAS and Eagle, following the acquisitions by NAC of Aldus Aviation Limited and Jetscape Aviation Group.
Two of the aircraft on lease to Alitalia are thus operating for ATLAS and three for Eagle.
However, NAC has residual exposure only to Eagle as it is solely a manager on the ATLAS transaction therefore, NAC's balance sheet exposure is limited to nine of the E-Jets.
Kroll Bond Rating Agency As thus concludes that risks related to the potential for the early return of all or some of these aircraft are expected to be contained, given the moderately low overall level of exposure to Alitalia in respect to NAC's much larger fleet.
With the acquisition of Jetscape Aviation Group in March 2016, Nordic Aviation Capital brought 28 Embraer E-Jets including 16 E190, nine E175, one E170 and two E195 aircraft, commitments for 11 E-Jets and a further 18 of the type under management into its aircraft portfolio that already comprised over 275 aircraft.
In June 2016, NAC also acquired 25 Embraer E190 and E175 aircraft from Air Lease Corporation, with the transfers of the aircraft to be concluded by Q1, 2017.
And April 2016, NAC announced the acquisition of the Irish aviation leasing company Aldus Aviation Limited which added a further 30 managed regional jets to NACs expanding portfolio, bolstering the combined delivered fleet to a total of 294 aircraft plus 48 managed.
One issue will be the situation around the carrier's aircraft fleet as lease contracts are abrogated.
One case concerns the Danish aircraft leasing company Nordic Aviation Capital that currently has 11 Embraer aircraft on lease to Alitalia.
NAC currently has exposure to Alitalia as a general lessor as well as via the two securitization transactions it manages, ATLAS and Eagle, following the acquisitions by NAC of Aldus Aviation Limited and Jetscape Aviation Group.
Two of the aircraft on lease to Alitalia are thus operating for ATLAS and three for Eagle.
However, NAC has residual exposure only to Eagle as it is solely a manager on the ATLAS transaction therefore, NAC's balance sheet exposure is limited to nine of the E-Jets.
Kroll Bond Rating Agency As thus concludes that risks related to the potential for the early return of all or some of these aircraft are expected to be contained, given the moderately low overall level of exposure to Alitalia in respect to NAC's much larger fleet.
With the acquisition of Jetscape Aviation Group in March 2016, Nordic Aviation Capital brought 28 Embraer E-Jets including 16 E190, nine E175, one E170 and two E195 aircraft, commitments for 11 E-Jets and a further 18 of the type under management into its aircraft portfolio that already comprised over 275 aircraft.
In June 2016, NAC also acquired 25 Embraer E190 and E175 aircraft from Air Lease Corporation, with the transfers of the aircraft to be concluded by Q1, 2017.
And April 2016, NAC announced the acquisition of the Irish aviation leasing company Aldus Aviation Limited which added a further 30 managed regional jets to NACs expanding portfolio, bolstering the combined delivered fleet to a total of 294 aircraft plus 48 managed.