Operating lessor Orix Aviation reported a buyoant activity in the first three months of this year. The Dublin-based company acquired a total of 12 aircraft, sold four aircraft and signed lease extensions and new leases.   

Orix Aviation signed lease extensions with two customers in the first quarter of this year. The operating lessor closed a lease extension on two Airbus A320-200s (324, 330) with CFM56-5A1 engines to Air Canada until 2014. Both 1992-vintage aircraft had been with Air Canda since new.  

Orix Aviation also signed a lease extension of two 2001-vintage Airbus A319-100s (1445, 1604) with V2522-A5 engines to British Airways until 2013.The operating lessor also signed a lease agreement on two Boeing 737-500 aircraft (25066, 28084) with CFM56-3B1 engines to Sterling Airlines until 2013.  

Orix entered the African market with the placement of one 1989-vintage ex-Air One Boeing 737-400 aircraft (24164) with CFM56-3C1 engines to Comair Limited South Africa until 2013.  The operating lessor leased an Airbus A320-200 (1383) with V2527-A5 engines to Scandinavian Airlines System until 2018. The 2001-vintage aircraft has been subleased to Spanair.  

Orix Aviation also sold in the first quarter of this year a total of four aircraft. The operating lessor sold one Boeing 757-200 (22209) with RB211-535E4 engines to GECAS. According to Flight ACAS database, the 1984-vintage aircraft is on lease to US Airways through September 2009.  Orix Aviation sold two Boeing 737-300s (23371, 23372) with CFM56-3B1 engines to NTE Aviation. Both 1986-vintage aircraft have a lease attached to Continental Airlines through September 2009. Orix Aviation sold one 1991-vintage Airbus A320-200 (225) with V2500-A1 engines to AAR.   

 Acquisitions

Orix Aviation purchased a total of 12 aircraft during the quarter. All aircraft were purchased with leases attached to customers in North America and Europe.  SVP and Head of Marketing John Leech says there is no specific policy of acquiring aircraft with lease attached. “We focus on aircraft types but when the lease is attached  we consider the strength of the credit,” he says. 

The operating lessor entered a sale and leaseback agreement with TUI for the acquisition of two aircraft: one Boeing 737-700 (24693) and one Boeing 737-800 (25312) aircraft.  The operating lessor also finalised the acquisition a total of 10 Boeing aircraft from Q Aviation.  It purchased two Boeing 767-200ER aircraft (24764, 24765) with CF6-80C2B2 engines from Q Aviation. Both 1990-vintage aircraft are on lease to US Airways. 

Orix Aviation also acquired an eight aircraft portfolio from Q Aviation including three Boeing 767-300 (25285, 25392, 25394) aircraft on lease to United Airlines, one Boeing 737-500 aircraft (26703) with CFM56-3C1 engines on lease to Travel Service, one Boeing 737-500 aircraft (26704) with CFM56-3C1 engines on lease to Bulgaria Air as well as three Boeing 757-200s (27246, 27810, 27811) with RB211-535E4 engines on lease to US Airways.