LONDON – Leasing and asset management company SkyWorks has announced its business activities for the fourth quarter of 2022.
Who is SkyWorks?
Before we go into detail on what SkyWorks has done, we should first talk about who they are.
SkyWorks was founded in 2002 with the intention to help airlines in 2 divisions, namely Leasing & Asset Management and Investment Banking and Advisory Groups. Each division has a specific role.
Leasing & Asset Management persists airlines with aircraft leasing; aircraft remarketing and trading. It deals with aspects like assessing the current market, combining the main goals of the transaction, and receiving optimal expected aircraft market value.
Investment Banking and Advisory mainly deal with the financial/operational side of airplane leasing/airline management.
This includes functions such as asset financing; capital raising; fleet and financial restructuring; merger, acquisition, and investment advisory; network and fleet planning, and other services.
SkyWorks has been working together with airlines and with investment companies all over the world. The majority of the clients are airlines, most of which are located in North America.
Accomplishments Q4 2022
Now that we have some background information on who they are, let us delve into the accomplishments for both divisions.
Leasing & Asset Management was able to extend the lease on 2 Airbus A319s of American Airlines by an undisclosed institutional investor client.
Will It arranged the sale of 2 Boeing 737-700 aircraft on lease to an undisclosed airline on behalf of an undisclosed U.S. based investor, and concluded its role as backup servicer for a large financial institution in respect of certain portfolio assets.
The investor division of SkyWorks also lists its achievements. SkyWorks has been retained by an undisclosed North American low-cost carrier to provide fleet-related advisory services related to a prospective aircraft order.
SkyWorks completed 2 assignments, one with Southwest Airlines, and one with an undisclosed lessor client.
The assignment with Southwest consisted of advising Southwest with respect to the buyback of 39 737-700 aircraft on lease with AerCap.
The assignment with the undisclosed lessor resulted in purchase agreements with CFM & Pratt & Whitney with respect to engine selection for the clients Airbus A320neo aircraft on order.
Another assignment SkyWorks completed was with an undisclosed North American network carrier on which it advised on fleet-related matters.
SkyWorks has worked together with Spirit Airlines to arrange the sale and leaseback financing program for 17 Airbus A320neos which are going to be delivered this year.
Together, they closed on lease agreements with Orix Aviation, Fuyo General Lease, and ICBC Aviation Leasing. SkyWorks has been engaged to arrange Spirit’s 2024 sale and leaseback program.
SkyWorks continued to provide aircraft and engine sourcing advisory services for Airbus A320neo and Embraer E2 family aircraft to an EMEA flag carrier.