ORIX Aviation manages aircraft acquisition from Novus Aviation Capital

ORIX Aviation Systems Limited (“ORIX Aviation”) today announced it has managed the acquisition of a Boeing 777-300 on lease to British Airways from Novus Aviation Capital, a global leading aircraft platform.

Commenting on the transaction, James Meyler, Chief Executive Officer of ORIX Aviation, said “We are delighted to successfully manage the acquisition of this aircraft, yet another example of ORIX delivering for its investors. This transaction also deepens our relationships with long-standing customers of ORIX Aviation, Novus and British Airways, where the aircraft will remain on lease.”

Mamoun Kuzbari, Chief Commercial Officer at Novus Aviation Capital, said: “Novus is delighted to have completed this transaction with ORIX Aviation and extend our long-standing relationship with ORIX. We are seeing the trading market return following the ease of travel restrictions as the aviation market continues to prove its long-term resilience and promise for investors looking to diversify their assets. The appetite for widebody aircraft is returning especially for long term leases with strong credits. The 777-300ER remains a strong asset given its longevity with multiple cargo conversation programmes in the market.”

S&P Global affirm Strong Aircraft Servicer Ranking and Stable Outlook for ORIX Aviation

ORIX Aviation announce that S&P Global Ratings have affirmed our Strong overall ranking on ORIX Aviation Systems Ltd as an aircraft servicer in Ireland, the ranking outlook is stable.

According to S&P Global’s report, the Strong Aircraft Servicer Ranking for ORIX Aviation reflected the company’s solid track record of lease management, its experienced leadership team and ORIX Aviation’s delivery of key metrics on credit risk management throughout the recent pandemic.

ORIX Aviation CEO James Meyler commented; “We are pleased that S&P Global have reaffirmed our Strong Ranking, the highest ranking available, accompanied by a Stable Outlook. Coming as it does almost three years since our last ratings report, this affirmation endorses many of the actions we have taken to meet the difficult challenges brought by the pandemic. As the demand for global air travel rebounds, I remain confident that ORIX Aviation is well placed to benefit from the sector’s recovery.”

Ruth Kavanagh and Cian Coakley included on Airline Economics Forty under 40 list for 2022

ORIX Aviation are proud to congratulate our Airline Economics Forty Under 40 honourees for the Class of 2022, Head of Corporate Planning and Investment Ruth Kavanagh and Director, Commercial Cian Coakley.

The Airline Economics Forty under 40 list for 2022 has been compiled from a record amount of nominations and endorsements, many from senior members of the broad aviation community.

Both Ruth and Cian were recognised by ORIX customers who highlighted the value and support they have brought to relationships, particularly throughout the recent pandemic, which challenged our industry like never before.

In nominating Ruth Kavanagh for inclusion in the Forty Under 40, her clients praise her professional acumen, deep understanding and attention to detail. Cian Coakley’s nominees stressed his relationship with clients; “What sets Cian apart from his peers is his willingness is that he understands the importance of the relationship – not just the business,” noted one customer.

A traditional element of the Airline Economics Forty under 40 sees recipients nominate mentors who have helped guide their careers in aviation. This year ORIX Aviation CEO James Meyler, Chief Financial Officer Marie-Louise Kelly and Chief Commercial Officer Paul O’Dwyer have been recognised for the support they have given to Ruth and Cian.

ORIX CEO James Meyer commented; “We are delighted that Ruth and Cian have been recognised as part of the prestigious Airline Economics Forty Under 40 Class of 2022. This honour is a strong endorsement of their leadership within the ORIX Aviation team. I am pleased too that their hard work is being recognised by the customers who have nominated them for Forty Under 40, thus highlighting the strength of our relationships with our customers, relationships that have only deepened through the pandemic.

You can read the full list of Airline Economics Forty Under 40 honourees and their citations here (AE68)

ORIX Aviation completes the transition and delivery of the first of two Boeing 787-9 aircraft to LATAM Airlines Group S.A.

ORIX Aviation is pleased to announce the successful delivery of the first of two Boeing 787-9 aircraft on lease to LATAM Airlines Group S.A., on behalf of the secured financiers of the aircraft. The aircraft, manufactured in 2018 and 2019, are equipped with Trent 1000 engines and were previously on lease to Norwegian Air Shuttle. James Meyler, ORIX Aviation’s CEO, remarked: “We are delighted to complete the first of these two Boeing 787-9 deliveries and to further build upon our long-lasting relationship with the LATAM Airlines Group. The placement of these aircraft serves as evidence of the continued recovery and resilience of the aviation market, and has also allowed ORIX Aviation to further demonstrate our best-in-class asset management and remarketing capabilities to the industry.”

 

 

Fiachra Treacy ORIX Aviation Award Ceremony at the University of Limerick

On the 3rd of March, ORIX Aviation had the pleasure of presenting the first annual Fiachra Treacy ORIX Aviation awards to Patrick O’Connor and Ben Austin, both of whom are senior Aeronautical Engineering students at the University of Limerick.

ORIX Aviation’s Chief Operations Officer Mike MacConnie and Technical team members Aaron Gilmartin and Kiran Srinivasan represented ORIX Aviation. Members of Fiachra’s family as well as University of Limerick President Kerstin May also attended the ceremony to show their support for the recipients.

Of the occasion Mike said, “I was so proud to see that we have been able to take the energy from our grief and help make a positive impact in the lives of two worthy young men.”

The Fiachra Treacy award was launched in September 2021 through the University of Limerick Foundation, awarding two final-year Bachelor or Masters of Aeronautical Engineering students with a bursary of €2,500 to assist with their studies at the University in memory of our colleague Fiachra.

ORIX Aviation completes the transition and delivery of two B737-800 aircraft to Transavia France

ORIX Aviation is pleased to have completed the successful transition and delivery of two Boeing 737-800 aircraft to Transavia France. James Meyler, ORIX Aviation CEO, remarked: “We are delighted to add Transavia France to our portfolio of customers and assist with the airline’s fleet development, whilst continuing to strengthen the relationship between ORIX Aviation and the Air France-KLM Group”

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ORIX Aviation announces new office in Dubai and changes to the Board of Directors

ORIX Aviation Systems Limited (“ORIX Aviation”), announced today a number of business updates.

• ORIX Aviation has established a new office in Dubai, situated in the DIFC. CEO of ORIX Aviation Group James Meyler, comments, “with direct flights from Dubai to over 100 countries and 250 cities, Dubai is very well positioned to enable us to service our clients globally and remain in close contact to our shareholder in Japan. The opening of the Dubai office is in response to the continued growth and success of ORIX Aviation’s business.” Chief Commercial Officer of ORIX Aviation Paul O’Dwyer, has relocated from Dublin to Dubai and will play a key role in the development of the new office. The Dubai office will be staffed by a number of ORIX Aviation Group employees relocating from Dublin and Hong Kong. In response to a changing business environment, ORIX Aviation will be closing its office in Hong Kong on 31 March 2022.

• In January 2022, Kiyoshi Fushitani Senior Managing Executive Officer in ORIX Corporation retired from the Group. A valued member of the ORIX Aviation and Avolon Boards, Fushitani held a number of roles within the ORIX Group, including, Head of East Asia Business Headquarters and Head of Global Transportation Services. In response to these changes, Ryujiro Tokuma, who has succeeded Fushitani in the role of Head of Global Transportation Services Headquarters for ORIX Corporation has joined the ORIX Aviation board and James Meyler has joined the Avolon board. The changes to the ORIX Aviation and Avolon boards became effective on the 11th January 2022.

Launch of the Fiachra Treacy ORIX Aviation Award at the University of Limerick

Today, at the University of Limerick, a new award, the Fiachra Treacy ORIX Aviation Award was launched in memory of Fiachra Treacy, who had been an integral part of the ORIX Aviation team for over three years, until he died tragically in January 2020. Fiachra graduated with a Bachelor’s Degree in Aeronautical Engineering from UL in 2000 and pursued his passion for aviation through a successful career, working with various leading aviation companies in Seattle, Bristol and Dublin, prior to joining ORIX Aviation.

Fiachra was a keen aerospace enthusiast and an active member of several clubs and societies during his undergraduate years. He always spoke fondly of his time at the university, during which he made many life-long friendships and also met his wife Cróine, herself a UL Alumna. Speaking about the scholarship, Cróine Treacy said: “UL holds many happy memories for Fiachra, I, his many friends and especially the Aero Eng class of 2000. On behalf of Fiachra’s family, his friends and our three girls I would like to thank ORIX Aviation for their generosity. It means a great deal to us that Fiachra’s love for Aeronautical Engineering will continue in the next generation of UL Engineers”.

The new award at the University of Limerick, which is being gifted through the University of Limerick Foundation, will award two final-year Bachelor or Masters of Aeronautical Engineering students with a bursary of €2,500 to assist with their studies at the university. The first two successful recipients will receive their awards in 2021.

Speaking about the newly launched award, Mike MacConnie, Chief Operations Officer at ORIX Aviation said: “Fiachra was an invaluable colleague within the ORIX Aviation team in Dublin. We support this award to honour the memory of our dear friend and colleague.”

The University of Limerick is pleased that ORIX Aviation has decided to pay tribute to Fiachra’s memory in this way, so that his spirit, passion and dedication to aviation will continue through current and future students who receive this award.

Speaking about the Award, Sarah Hartnett, Director of Development at the UL Foundation said: “We at the University and Foundation are very touched and honoured that ORIX Aviation have chosen to remember Fiachra in this way. It’s very fitting that his spirit will continue through students who receive this award based on a shared passion for aviation”.

 

Leadership Team Changes at ORIX Aviation

ORIX Aviation announced today that Helfried Schwarz will be joining the company’s legal team based in Dublin as General Counsel and Mike MacConnie will step up to the role of Chief Operating Officer, in addition to his current role of Chief Technical Officer.

Mr. Schwarz was previously a partner in Milbank LLP’s Transportation and Space Group where he practiced for over 30 years, having worked in their New York, Frankfurt and London offices. He joined ORIX Aviation on 15th February and he will become ORIX Aviation’s General Counsel, effective April 1, 2021, replacing Dean Gerber, who will be leaving the company to pursue opportunities closer to his home in the United States. Mr. Schwarz is widely recognized as a leading aviation practitioner, including by Chambers, Legal 500 and Legal Media Group, and is active in a variety of industry led organizations including the Legal Advisory Panel to the Aviation Working Group.

James Meyler, Chief Executive Officer at ORIX Aviation has said “I would like to thank Dean for his contribution to the company’s success and I am very excited to welcome Helfried to ORIX Aviation’s Dublin office. Helfried possesses tremendous legal and aviation knowledge and experience that will further build and enhance our global business. He has a demonstrated history of success and achievement and I am delighted to have him join our team.”

On Mike’s promotion to Chief Operating Officer, James said, “We are delighted to have Mike step up to take on the role of COO in addition to his role as CTO of ORIX Aviation. Mike brings such huge experience from GECAS and multiple airlines, with almost 40 years of technical expertise, all of which is especially needed in these challenging times”.

“I am thrilled to join ORIX Aviation. I look forward to building on the excellent foundation of the legal team and contributing to ORIX Aviation’s continued success” stated Mr. Schwarz.

“I am both humbled and eager to take on this additional role while continuing to work with such a great team“ comments Mr. MacConnie.