News Topics

Aircraft Deals

Altavair Closes Delta Air Lines Sale and Leaseback of Six A321-200 Aircraft

KKR and Altavair signed a sale and leaseback with Delta Air Lines for six Airbus A321-200 aircraft. read more

Associations

Harry Fry & Associates Receives SC&RA Longevity Award

Harry Fry and Associates received a Longevity Award from the SC&RA, an international organization comprised of over 1,400 members from 46 nations. read more

Bankruptcy

Hundreds of Celadon Trucks for Sale at Upcoming Ritchie Bros. Auctions

Ritchie Bros. was chosen to sell select trucks and trailers owned by Celadon Group, which filed for Chapter 11 bankruptcy protection in December 2019. read more

Data

Non-Manufacturing Sector Contracts for First Time Since 2009; NMI at 41.8%

Economic activity in the non-manufacturing sector contracted in April for the first time since December 2009, ending a 122-month period of growth, according to the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report on Business. read more

Economy

ISM: Economic Downturn to Continue Through 2020

The ISM reported that manufacturing and non-manufacturing are forecast to contract in the year ahead, with revenue decreasing to 10.3% for manufacturing and 10.4% for non-manufacturing. read more

Equipment Sector

ACT: U.S. Trailer Net Orders Dropped 97% M/M, 99% Y/Y

April net U.S. trailer orders of 209 units were down 97% month-over-month and 99% below the previous year, according to ACT Research's State of the Industry: U.S. Trailer Report. read more

Industry

IDC: IT Spending Begins to Stabilize, U.S. Business Confidence Continues to Plunge

The IDC COVID-19 Tech Index reports leading indicators for IT spending appear to be stabilizing but confidence levels in the U.S. continue to plunge. read more

International

CSI EPC Expands to Edmonton, Announces Executive Promotions

Toronto-based CSI Electronics Processing Centre, a wholly-owned subsidiary of CSI Leasing Canada, has expanded its operations by opening a facility in Edmonton, Alberta. read more

Joint Ventures

Former Waypoint CEO Launches Intrinsic Aviation JV

Intrinsic Aviation launched a joint venture with Arena Investors to invest in helicopter assets. The joint venture will lease, trade and part-out mid-life to end of life helicopters. read more

Lease Accounting

FASB Extends Deadline for New Accounting Rules

The Wall Street Journal reported that the FASB extended the time to implement new accounting rules for some private companies and non-profits. read more

Legal / Fraud

Greenberg Traurig Re-joins Forces with Bankruptcy Guru Zirinsky

Greenberg Traurig rejoined forces with Bruce Zirinsky, who has played a prominent role in restructurings and bankruptcies covering a broad cross-section of industries, including equipment leasing and finance. read more

Mergers / Acquisitions

Hilco Global & Colbeck Acquire 19th Capital Group Assets

H19 Capital (a joint venture between Hilco Global and Colbeck) acquired substantially all of the assets of 19th Capital in a multi-million dollar transaction which closed on May 1, 2020. read more

New Ventures

Six Agtech Startups Selected for Wells Fargo Innovation Incubator

The Wells Fargo Innovation Incubator selected six new startups focused that support agriculture technology solutions while reducing environmental impact. read more

Of Interest

Equipment Broker School Enrollment Up 200%

Equipment Broker School sign-ups surged in April and May, up more than 200% compared to the previous two months. read more

People

Fleet Advantage Recognizes Griffin & McMahon as CTP Accredited Professionals

James Griffin and Brian J. McMahon of Fleet Advantage achieved their 2020 National Private Truck Council Certified Transportation Professional recognition. read more

Program Agreements

Lenovo Extends Financial Services Program with CIT, LBC Capital

Lenovo extended its relationships with CIT and LBC Capital. CIT will continue to provide vendor financing solution for U.S. clients of the Lenovo Financial Services program and LBC Capital will continue as the program’s exclusive lessor program in Canada until 2023. read more

Recent Earnings

Chesswood Reports C$19.8MM Q1/20 Net Income Loss, Provides COVID-19 Update

Chesswood Group reported a net loss of C$19.8 million ($14.06 million) in Q1/20 and provided a COVID-19 update. read more

Securitization

DBRS Morningstar Confirms Balboa Capital Equipment ABS Ratings

DBRS confirmed 11 ratings on securities issued by three equipment lease and loan securitization transactions sponsored by Balboa Capital Corporation. read more

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Terry Mulreany
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