News Topics

Aircraft Deals

Air Lease Delivers New Airbus A321-200neo LR Aircraft to Air Arabia

Air Lease delivered one new Airbus A321-200neo LR aircraft on long-term lease to Air Arabia. This aircraft, featuring CFM International LEAP-1A32 engines, is the sixth of six new A321-200neo LRs to deliver to Air Arabia from Air Lease’s order book with Airbus. read more

Associations

AACFB to Host Virtual Financing Expo from May 5 to May 7

The American Association of Commercial Finance Brokers will host its annual Commercial Financing Expo virtually this May. The expo will be held from May 5 to May 7. read more

Bankruptcy

ABI: January Total Bankruptcy Filings Decrease More Than 40% Y/Y

Total bankruptcy filings fell more than 40% in January 2021 compared to last year, according to data provided to the ABI by Epiq. Commercial chapter 11 filings in January 2021 totaled 479, a 24% drop from the 631 commercial chapter 11 filings in January 2020. read more

Data

ELFF Projects 11.2% Growth in Equipment & Software Investment in Q2 Update to Economic Outlook

Annual equipment and software investment is expected to grow 11.2% in 2021 and U.S. GDP is expected to grow 5.7% in 2021, according to the Q2 update to the 2021 Equipment Leasing & Finance U.S. Economic Outlook from the Equipment Leasing & Finance Foundation. read more

Economy

ELFF Projects 11.2% Growth in Equipment & Software Investment in Q2 Update to Economic Outlook

Annual equipment and software investment is expected to grow 11.2% in 2021 and U.S. GDP is expected to grow 5.7% in 2021, according to the Q2 update to the 2021 Equipment Leasing & Finance U.S. Economic Outlook from the Equipment Leasing & Finance Foundation. read more

Equipment Sector

ACT Research: March Preliminary Net Trailer Orders Up 12% M/M

Preliminary reports from trailer OEMs indicate that 29,500 new trailer orders were booked in March, according to ACT Research. That was 12% better than February and more than triple the volume seen last year. read more

Industry

Onset Financial Goes Pink in Support of Breast Cancer Awareness

The American Cancer Society projects that 281,550 women will develop invasive breast cancer in the U.S. in 2021. To show support and help spread awareness, Onset Financial changed the logos on its building to hot pink and Onset Gives, the 501(c)(3) philanthropic branch of Onset Financial, will completely shift its focus to breast cancer. read more

International

ING Appoints Bester Head of Wholesale Banking

ING appointed Andrew Bester a member of the management board banking and head of wholesale banking. Bester will officially take up his position on April 6, succeeding Isabel Fernandez, who stepped down on Dec. 31. read more

Joint Ventures

Travelers Selects Ritchie Bros. as Preferred Disposition Agent & Valuation Partner

Travelers Capital chose Ritchie Bros. as its preferred disposition agent and Ritchie Bros.’ affiliate Rouse Appraisal Services as its valuation partner for appraisal services on all heavy equipment financing transactions. read more

Lease Accounting

ROI Opportunities from Adopting Lease Accounting Standards Still Prevalent

According to LeaseAccelerator and EY’s 2021 Global Lease Accounting Survey, while lease accounting standards for public companies have been around since 2019, there is still an opportunity to drive ROI from the investments made in adopting the standards. read more

Legal / Fraud

Cunningham and Perry Join Moritt Hock & Hamroff’s Trusts and Estates Practice

Jennifer Cunningham and Ronald P. Perry joined Moritt Hock & Hamroff’s trusts and estates practice group. Both joined the firm as associates. Cunningham will work in the firm's New York City office and Perry will work in the firm's Garden City, NY, office. read more

Mergers / Acquisitions

United Rentals Acquires General Finance for $996MM

United Rentals and General Finance entered into a definitive agreement under which United Rentals will acquire General Finance for $19 per share in cash, representing a total enterprise value of approximately $996 million, including the assumption of $400 million of net debt. read more

New Ventures

JPMorgan Chase Launches Specialized Green Economy Team, Lehman to Lead

JPMorgan Chase Commercial Banking launched a green economy specialized industry team, which will be led by Brian Lehman, who was named the head of green economy. read more

Of Interest

Boeing Forecasts Sufficient Capital for Aviation Finance

In its 2021 Current Aircraft Finance Market Outlook, Boeing projects global and diversified funding will continue to flow into the aircraft financing sector as the aviation sector navigates the global COVID-19 pandemic and vaccine deployment continues to accelerate. read more

People

Aviation Capital Group Promotes White to Chief Revenue Officer

Aviation Capital Group, an aircraft asset manager, promoted Carter White to chief revenue officer, effective May 1. White joined Aviation Capital Group in 2016 as head of aircraft trading. read more

Program Agreements

Sheffield Financial and Kawasaki Renew Multi-Year Financing Program Agreement

Sheffield Financial, a division of Truist Bank, and Kawasaki Motors agreed to a multi-year financing services program agreement. read more

Recent Earnings

Willis Lease Finance Reports 29.4% Decrease in 2020 Revenue

Willis Lease Finance reported annual total revenues of $288.7 million for the year ended Dec. 31, 2020. The company reported lower revenue in 2020 when compared with 2019, primarily due to the impact of the COVID-19 pandemic. read more

Securitization

Textainer Prices $651MM Asset-Backed Financing

Textainer Marine Containers VII Limited (TMCL VII), an indirect, wholly-owned subsidiary of Textainer, priced a new debt offering of $651 million of fixed-rate asset-backed notes, comprised of $605 million in Class A notes and $46 million in Class B notes. read more

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Terry Mulreany
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