News

Milestone and Leonardo Partner to Provide 17 AW139 Helicopters to Aramco

Milestone Aviation Group and Leonardo Helicopters selected to renew the medium helicopter fleet of Aramco Overseas Company, a subsidiary of Saudi Aramco, which is a fully integrated, global petroleum and chemicals enterprise. read more

Avolon White Paper Predicts Indian Airline Fleet to Double by 2027

According to a white paper from international aircraft leasing company Avolon, India’s current passenger fleet will double to almost 1,100 aircraft by 2027, with the total value of aircraft to be delivered over the coming 10 years, at current list prices, projected to be $60 billion. read more

Wells Fargo Reports ‘Flat’ H1/18 Lease Financing Results

Wells Fargo reported lease financing average balances for the six months of 2018 were $19.3 billion compared to $19.1 billion a year earlier. The average yield for the period of 4.89% compared to 4.88% for the same six months in 2017. read more

Verdant Commercial Capital Acquires Machine Tool Financier Intech Funding

Verdant Commercial Capital of Cincinnati, OH acquired Intech Funding of Monrovia, CA. Intech is focused on financing and leasing for manufacturing companies nationwide. read more

Veterans Capital Provides $2MM Equipment Lease Funding to Nutritional High

Nutritional High received a $2 million conditional lease commitment for the funding of new extraction and lab processing equipment from Veterans Capital. read more

ELFF Releases Q3 Equipment Leasing Industry Snapshot Update

The ELFF released its Q3 Equipment Leasing & Finance Industry Snapshot, which is a collection of 18 slides that summarize the current conditions of the U.S. economy and equipment finance industry. read more

GECAS Arranges Sale-Leaseback for Two Boeing 737 MAX 8s to Okay Airways

Following the delivery of Okay Airways’ first leased Boeing 737 MAX 8 last week, GECAS signed another contract with Okay Airways for the purchase-and-leaseback with pre-delivery payment financing of two Boeing 737 MAX 8s. read more

Cutting Tool Consumption Rises 10.1% in 2018

May U.S. cutting tool consumption totaled $215.13 million according to the U.S. Cutting Tool Institute and the Association For Manufacturing Technology. read more

PNC Beats the Street on Higher Revenues & Earnings

PNC reported Q2/18 revenue and earnings of $4.3 billion and $1.4 billion, respectively, which were up 6.5% and 23.6%, respectively, from the same quarter in 2017. Earnings per share of $2.72 exceeded analysts’ estimates of $2.58. read more

JPMorgan Reports Record Q2 Earnings, Exceeds Expectation

JPMorgan Chase reported record Q2/18 earnings of $8.3 billion, up $1.3 billion or 18% from Q2/17. CEO Jamie Dimon attributed the bank’s performance to “good global economic growth, particularly in the U.S, where consumer and business sentiment is high.” read more

ELFF’s Q3 Economic Outlook Update Projects 7% Growth in Equipment Investment

According to the Equipment Leasing & Finance Foundation’s Q3 update to the 2018 Equipment Leasing & Finance Economic Outlook, after solid growth in 2017, investment in equipment and software should remain strong in 2018 and is projected to expand 7.0%. read more

ApplePie Capital to Provide Franchise Financing to School of Rock

ApplePie Capital partnered with music education franchise School of Rock to simplify the financing process for new and existing franchisees. read more

EPG and Assurant Partner to Provide Insurance and Equipment Protection

EPG Insurance, a provider of insurance sold through heavy equipment dealers, manufacturers and finance companies, and Assurant, a global provider of risk management solutions, will partner to provide insurance and equipment protection. read more

CWB Franchise Finance Provides Development Line Facility to Mercatto Hospitality

CWB Franchise Finance, a division of CWB Financial Group, provided a debt consolidation term loan, a relocation financing term loan and a development line facility to Mercatto Hospitality Group. read more

ABLE Equipment Rental Expands with Fifth Location in Northeast

ABLE Equipment Rental, a supplier of construction equipment rentals, sales, service and parts, purchased the aerial equipment assets and service operations of Mobile Lifts of Norristown, PA. read more

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Terry Mulreany
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