SkyWorks Holdings today announced transactions and activities performed during Q4 2015 for its Asset Management, Investment Banking & Management Consulting Groups.
Asset Management Group Activities
Asset Management services, provided through SkyWorks Leasing, involved 65 aircraft in Q4 2015, including the following:
SkyWorks provided investment analysis and advisory services to a U.S.-based investor with respect to 55 aircraft of various vintages and types. Services included lease reviews, residual value forecasting and detailed modeling of maintenance reserve cash flows and aircraft condition at lease expiry. These efforts resulted in the successful acquisition of three separate transactions, including two B767-300ER aircraft (s/n’s 25585 and 25586) on lease to Air Canada, three A300-600F aircraft (s/n’s 759, 766 and 794) on lease to FedEx, and one B737-700 (s/n 28782) on lease to United Airlines. All six aircraft have been added to SkyWorks’ portfolio of assets under management.
On behalf of a U.S.-based investor, SkyWorks arranged lease extensions for four DHC8-300 aircraft (s/n’s 131, 137, 143, 149) operated by Jazz Aviation.
On behalf of Scandinavian Airlines System, SkyWorks arranged the sale of three ex-Blue1 B717-200 aircraft (s/n 55064, 55065 and 55067) to Delta Air Lines. In another transaction arranged by SkyWorks, Delta acquired two MD90-30 aircraft (s/n’s 53458 and 53459) previously on lease from SAS.
SkyWorks repossessed a B767-300ER (s/n 26470) in Toronto, Canada, on behalf of a U.S. investor. The aircraft had previously been operated by SkyGreece Airlines. The lease was terminated and the aircraft ferried to a U.S. storage facility pending a foreclosure sale.
Investment Banking & Management Consulting Group Activities
Investment Banking and Management Consulting services, provided through SkyWorks Capital, included the following:
SkyWorks arranged sale and leaseback financings for five 737-900ER aircraft in its capacity as advisor to Delta Air Lines. The transactions followed the closings of four additional 737-900ER sale and leaseback financings arranged for Delta earlier this year.
SkyWorks advised El Al Israel Airlines in what CEO David Maimon called “the largest aircraft acquisition program in the history of El Al”, which resulted in the order of up to nine 787 aircraft and lease agreements for another six. The order will result in the complete replacement of the El Al widebody fleet and will deliver substantial operating cost savings and an improved customer experience.
SkyWorks was also retained by El Al to advise on its engine selection for the 787, and is currently engaged to advise, structure, and negotiate a long term engine maintenance program related to the purchased and leased 787 aircraft.
SkyWorks arranged the sale of four ERJ-145LR aircraft on behalf of Embraer Asset Management to Plane Business Leasing. The transaction followed the sale of 12 E-jets to the same buyer earlier this year, also arranged by SkyWorks on behalf of Embraer. The portfolio consisted of one E-175LR, one ERJ-145LR, two ERJ-145MP, and eight ERJ-135LR aircraft.
SkyWorks conducted an in-depth review of Sri Lankan Airlines’ widebody network and fleet, including route profitability and aircraft-specific operating and ownership costs. As part of a follow-up assignment, SkyWorks is currently assisting Sri Lankan with the implementation of possible fleet changes.
SkyWorks completed the first phase of an in-depth fleet study for an Asian network carrier using its SAAV® Aircraft Asset Value Management System. The study is focused on potential fleet replacement scenarios and a comparison of the technical and operational profiles of certain aircraft types under consideration.
About SkyWorks Holdings, LLC:
SkyWorks Holdings provides a full complement of asset management, investment banking, and management consulting services globally to the aviation industry through its subsidiaries SkyWorks Leasing and SkyWorks Capital. SkyWorks has performed services encompassing approximately 10% of the global commercial jet fleet.
SkyWorks Leasing, which operates the firm’s Asset Management Group, is a premier independent aircraft remarketing firm and provides turnkey third-party portfolio asset management, remarketing, and technical advisory services for owners and operators of commercial aircraft. SkyWorks Leasing currently manages a diverse portfolio of over 100 aircraft, including ERJ’s, CRJ’s, Airbus A319/320s and A300-600Fs, Boeing 737NGs, 757s, 767s, and 747-400Fs.
SkyWorks Capital, which operates the firm’s Investment Banking and Management Consulting Groups, is a premier aviation advisory and investment banking firm founded in 2002. SkyWorks Capital has served over 100 clients including commercial airlines, aircraft owners, and airline/aerospace investors.
SkyWorks operates globally with offices in Greenwich, Dublin, and Hong Kong, and senior team members located in additional regions around the world.
SkyWorks is headquartered at 283 Greenwich Ave., 4th Floor, Greenwich, CT. 06830, Tel. 203-983-6677. www.skyworkscapital.com
Managing Director & Head of Asset Management
Managing Director & Head of Investment Banking
Managing Director & Head of Management Consulting