News Topics

Aircraft Deals

Textron Aviation Delivers First Cessna SkyCourier to FedEx

Textron Aviation delivered its first Cessna SkyCourier twin utility turboprop to FedEx. This is the first of 50 freighter aircraft that FedEx ordered as the Cessna SkyCourier’s launch customer. The clean-sheet aircraft achieved Federal Aviation Administration type certification in March. read more

Associations

ELFA: New Business Volume in Equipment Finance Rises 7% Y/Y in April

According to the Equipment Leasing and Finance Association, overall new business volume in the equipment finance industry for April was $10.5 billion, up 7% year over year from new business volume in April 2021 but relatively unchanged from $10.6 billion in March. read more

Bankruptcy

Philippine Airlines Emerges from Chapter 11 with $2B in Balance Sheet Reductions

Philippine Airlines emerged from its voluntary Chapter 11 proceedings, completing its financial restructuring within four months. Philippine Airlines’ plan of reorganization provides for more than $2 billion in permanent balance sheet reductions from existing creditors. read more

Data

ELFA: New Business Volume in Equipment Finance Rises 7% Y/Y in April

According to the Equipment Leasing and Finance Association, overall new business volume in the equipment finance industry for April was $10.5 billion, up 7% year over year from new business volume in April 2021 but relatively unchanged from $10.6 billion in March. read more

Economy

Equipment Finance Industry Confidence Decreases in May

According to the Equipment Leasing & Finance Foundation’s May 2022 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is 49.6, a decrease from the April index of 56.1. read more

Equipment Sector

Global Jet Capital Projects 5.1% Growth in Business Jet Market by 2026

In its updated five-year business jet market forecast, Global Jet Capital projected $186.8 billion in total transaction volume of new and pre-owned business jet transactions between 2022 and 2026, with a compound annual growth rate of 5.1% during that time. read more

Industry

QuickFi Wins Best in Show Award at Finovate Spring 2022

QuickFi was voted best in show at Finovate Spring 2022, a financial technology event series and digital engagement platform. QuickFi participated with 52 other companies at the event. read more

International

Société Générale Ceases Activities in Russia, Sells Stake in Rosbank

Société Générale will cease its banking and insurance activities in Russia and signed a sale and purchase agreement to sell its entire stake in Rosbank and its Russian insurance subsidiaries to Interros Capital, the previous shareholder of Rosbank. read more

Joint Ventures

Mitsubishi HC Capital Canada Signs Inventory Financing Agreement with Construction Equipment Manufacturer

Mitsubishi HC Capital Canada signed an agreement with a construction equipment manufacturer to provide inventory financing for heavy excavators to more than 10 distributors operating in all Canadian provinces and 40 distributors in the United States. read more

Lease Accounting

LeaseQuery and Cherry Bekaert Form Reseller Partnership

LeaseQuery, a provider of lease accounting software, partnered with Cherry Bekaert, an accounting and advisory firm offering specialized solutions across various industries, as a select reseller for its lease accounting software. read more

Legal / Fraud

Cohn and Dussi Opens New Rhode Island Office

Cohn and Dussi, a full-service business law firm with its principal office in Boston, has opened an office in Providence, RI. read more

Mergers / Acquisitions

CommunityBank of Texas and Allegiance Bank to Become Stellar Bank After Merger

Resulting from its previously announced merger of equals CBTX, the parent company of CommunityBank of Texas, and Allegiance Bancshares, the holding company of Allegiance Bank, named the combined company Stellar Bancorp and the combined bank Stellar Bank. read more

New Ventures

Friendly Hills Bank Launches Specialty Lending Group for Commercial Vehicles

Friendly Hills Bank launched a specialty lending group dedicated to providing financing solutions for commercial trucks and vehicles. Marc Merino joined the bank as executive vice president and director of specialty lending to spearhead this new effort. read more

Of Interest

QuickFi Wins Best in Show Award at Finovate Spring 2022

QuickFi was voted best in show at Finovate Spring 2022, a financial technology event series and digital engagement platform. QuickFi participated with 52 other companies at the event. read more

People

Friendly Hills Bank Launches Specialty Lending Group for Commercial Vehicles

Friendly Hills Bank launched a specialty lending group dedicated to providing financing solutions for commercial trucks and vehicles. Marc Merino joined the bank as executive vice president and director of specialty lending to spearhead this new effort. read more

Program Agreements

Mitsubishi HC Capital Canada Signs Inventory Financing Agreement with Construction Equipment Manufacturer

Mitsubishi HC Capital Canada signed an agreement with a construction equipment manufacturer to provide inventory financing for heavy excavators to more than 10 distributors operating in all Canadian provinces and 40 distributors in the United States. read more

Recent Earnings

Willis Lease Finance Reports Increase in Lease Rent Revenue in Q1/22

Willis Lease Finance reported increases in total revenues, lease rent revenue and short-term maintenance revenue in Q1/22, although its performance was negatively impacted by Russia’s invasion of Ukraine. read more

Securitization

Global Jet Capital Raises $609MM Through Newly Completed Securitization

Global Jet Capital closed its BJETS 2022-1 securitization, raising approximately $609 million. BJETS 2022-1 is Global Jet Capital’s sixth asset-backed security offering, bringing the company’s total assets securitized to approximately $4.4 billion. read more

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Terry Mulreany
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