SkyWorks Recognized for “Innovative Deal of the Year” and “Used Aircraft Deal of the Year” by Airfinance Journal.
SkyWorks is pleased to announce that it has been awarded two Deal of the Year Transactions by Airfinance Journal. The first award is the Airfinance Journal “Innovative Deal of the Year” in which SkyWorks advised Spirit Airlines in developing and structuring a $160mm revolving credit facility secured by pre-delivery payments relating to 43 A320neos. This transaction allowed Spirit to raise debt at attractive rates using non-aircraft collateral. This is the second year in a row that SkyWorks has received this award.
The SkyWorks team which advised Spirit on the financing was led by Olaf Sachau and Jeff Craine. “SkyWorks is proud to continue its close partnership with Spirit Airlines and appreciates the trust placed in us by Spirit to structure and arrange this innovative transaction. We were pleased to work with the teams from Credit Agricole and Nord LB who supported this transaction to meet Spirit’s requirements,” said Craine, Partner & Head of Investment Banking at SkyWorks. “This creative transaction provides Spirit with additional and flexible liquidity. We greatly appreciate the partnership with SkyWorks as well as Credit Agricole and Nord LB to close this transaction in a short timeframe” adds Simon Gore, Treasurer at Spirit Airlines.
SkyWorks also advised Air Canada with respect to the sale-leaseback of 25 E190s. This transaction received the Airfinance Journal “Used Aircraft Deal of the Year” award. The transaction involved the full-fleet disposition of Air Canada’s E190 fleet. The SkyWorks team which advised Air Canada on the campaign was led by Anders Hebrand. “SkyWorks is grateful for the recognition it has received for its role in this important transaction. Finding a way to minimize the phase-out cost to Air Canada and pairing it with a buyer who could recognize the value and have the ability to handle a large fleet of E190s, unlocked this win-win deal. We were honored to represent Air Canada and look forward to continue working together on other aircraft fleet and financing related transactions,” said Hebrand, Partner & Head of Asset Management at SkyWorks.
The Airfinance Journal awards were selected by an independent panel of industry leaders, who recognize significant transactions in the aviation finance industry.
About SkyWorks Holdings, LLC:
SkyWorks provides a full complement of asset management, investment banking and advisory services globally to the aviation industry. SkyWorks is a leading aircraft servicing, remarketing, and technical advisory firm serving owners and operators of commercial aircraft. SkyWorks is also a premier advisory and investment banking firm with key activities including aircraft order campaigns, arrangement of lease and debt financing, aircraft evaluations, restructuring advisory, and network and fleet planning. SkyWorks’ services have encompassed over 10% of the global commercial jet fleet. SkyWorks operates globally with offices in Greenwich, CT., Dublin, and Singapore, with headquarters located at 283 Greenwich Avenue, Greenwich CT. 06830, Tel. +1 (203) 983-6677. www.skyworks.aero
Jeffrey S. Craine
Partner & Head of Investment Banking
+1 (203) 983-6686
Partner & Head of Asset Management
+1 (203) 983-6683