News Topics

Aircraft Deals

ATSG and Air Canada Agree to Sale-Leaseback of 2 Boeing 767 Aircraft

Air Transport Services Group’s Cargo Aircraft Management subsidiary agreed to purchase two Boeing 767-300ER aircraft from Air Canada of Montreal, convert them from passenger to freighter configuration and lease them back to Air Canada. read more

Associations

CLFP Foundation Elects CoreTech’s Reinhart to 2021 Board of Directors

Candace Reinhart, CLFP, senior vice president of operations and syndications at CoreTech Leasing, was elected to the board of directors of the Certified Lease & Finance Professional Foundation. read more

Bankruptcy

Chapter 11 Filings Rise 78% Y/Y in September, Up 33% Overall in 2020

According to Epiq, continuing the trend from August, commercial Chapter 11 filings in September were up 78% compared with September 2019, with 747 new filings vs. 420 during September of last year. read more

Data

U.S. Loses 140K Jobs in December, Primarily in Leisure and Hospitality

According to the U.S. Bureau of Labor Statistics, there were 10.7 million unemployed persons in the U.S. in December, as total nonfarm payroll employment fell by 140,000 and the unemployment rate remained at 6.7%. read more

Economy

ISM: Services Sector Activity Expands in December as Prices Increase at a Slower Rate

Economic activity in the services sector grew in December for the seventh month in a row, according to the latest Services ISM Report on Business from the Institute for Supply Management. read more

Equipment Sector

ACT: Class 8 Volumes Were 25% Higher in 2020 vs. 2019

Preliminary used Class 8 volumes were 25% higher in 2020 compared with 2019, according to ACT Research, which further noted that preliminary used Class 8 volumes rose 11% month over month in December. Compared with December 2019, volumes gained 27%. read more

Industry

North Star Leasing Achieves Company Funding Record in 2020

North Star Leasing reported that it set company records in annual, quarterly and monthly funding in 2020. In all, North Star Leasing processed more than 6,600 applications totaling $236 million during the year. read more

International

ACT Research: China’s CV Markets Report Sales Uptick in Q3/20

According to ACT Research, China’s heavy and medium commercial vehicle markets reported an uptick in sales during Q3/20 following the ground lost from the severe setback in Q1/20 due to the COVID-19 pandemic and the recovery that started in Q2/20. read more

Joint Ventures

Tamarack Introduces Equipment Finance Assessment Service in Partnership with Hunter & Co

Tamarack Consulting partnered with Hunter & Company to offer assessments of equipment finance operation systems and workflows. read more

Lease Accounting

Visual Lease Named One of the Fastest Growing Companies in New Jersey

Visual Lease, a provider of lease accounting and management software, was named No. 10 on NJBIZ’s list of New Jersey’s 50 Fastest Growing Companies in 2020. read more

Legal / Fraud

18 Attorneys From Moritt Hock & Hamroff Receive Super Lawyers Designation

The law firm Moritt Hock & Hamroff reported that 18 of its attorneys were named 2020 Metro New York Super Lawyers. In addition, Brian P. Boland, Matthew S. De La Torre and Kelly Schneid were named 2020 Rising Stars. read more

Mergers / Acquisitions

TD Bank Acquires Wells Fargo’s Canadian Direct Equipment Finance Business

TD Bank and Wells Fargo entered a definitive agreement, subject to certain closing conditions, for TD to acquire Wells Fargo's Canadian direct equipment finance business. read more

New Ventures

Ares and Industry Veterans Launch Vmo Aircraft Leasing

Ares Management and aviation industry veterans Bob Brown, Sean Sullivan and Will Hudson launched Vmo Aircraft Leasing, a company to acquire and lease commercial aircraft. read more

Of Interest

Forbes Ranks Air Transport Services Group No. 71 Best Small-Cap Company

Forbes named Air Transport Services Group one of the 100 Best Small-Cap Companies of 2021. Forbes published the list on Dec. 4, with ATSG ranking No. 71. read more

People

CLFP Foundation Elects CoreTech’s Reinhart to 2021 Board of Directors

Candace Reinhart, CLFP, senior vice president of operations and syndications at CoreTech Leasing, was elected to the board of directors of the Certified Lease & Finance Professional Foundation. read more

Program Agreements

Hitachi Provides Inventory Financing for Workhorse Order from Pride Enterprises Group

Workhorse Group received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises. Hitachi Capital America is providing inventory financing for the order. read more

Recent Earnings

Greenbrier Reports $2.35B Estimated Value of New Railcar Backlog for Fiscal Q1

The Greenbrier Companies reported financial results for its first fiscal quarter ended Nov. 30, 2020. The results included liquidity of $810 million and a new railcar backlog as of Nov. 30, 2020, of 23,900 units with an estimated value of $2.35 billion. read more

Securitization

Dext Capital Closes Inaugural Securitization

Dext Capital closed its inaugural securitization of loans and lease contracts. According to Dext, the company’s initial offering was oversubscribed and well received by the market. read more

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