On the 3^rd 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 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.

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”.

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.

ORIX Aviation have been appointed as the exclusive remarketing agent in respect of a package of fourteen aircraft, consisting of twelve B737 MAX-8 (LEAP 1B engines) and two B787-9 (Trent 1000 engines), on behalf of the secured financiers of the aircraft. All 14 aircraft are currently leased to Norwegian Air Shuttle. James Meyler, ORIX Aviation’s CEO, remarked: “We are very excited to be able to offer these aircraft to the market. We look forward to showcasing ORIX Aviation’s best-in-class remarketing and asset management services with the added benefit of providing an excellent opportunity to our customers to secure these aircraft through lease or sale. These fourteen B737 MAX 8 and B787-9 aircraft will present attractive options for our airline customers and trading partners that are seeking to immediately access two of the most fuel efficient and desirable narrowbody and widebody aircraft types available.”

ORIX Aviation noted they will be imminently bringing the package of aircraft to the market for sale or lease.