Lease Corporation International
Encyclopedia
Lease Corporation International (LCI) is a commercial aircraft leasing company headquartered in Dublin, with offices in London
and Singapore
.
It provides leasing services to national flag carriers including Air France
, British Airways
, Finnair
and Singapore Airlines
and is owned by The Libra Group
, a privately-owned conglomerate operating across four continents.
, Air France, Iberia, Virgin Atlantic and Singapore Airlines. Lease Corporation International is part of The Libra Group
, a privately owned conglomerate
, the subsidiaries which span a range of industries including shipping
, aviation
, real estate
, construction
, energy
and hospitality
.
Lease Corporation International’s head office is in Dublin, with further offices in London
and Singapore
.
In April 2008, Airfinance Journal reported the opening of a Singapore office by LCI. The opening came about as the result of its formation of a new Singapore-based aircraft lessor, Singapore Commercial Leasing Pte.
Throughout its history, Lease Corporation International has acquired nearly $5billion of aircraft. On 15 February 2007, Commercial Aviation Report reported that LCI had become one of the largest privately held commercial aircraft leasing companies with eighteen aircraft in its portfolio.
of 35 wide and narrow-bodied aircraft
which are leased to carriers such as Singapore Airlines
, British Airways
and Air France
.
The fleet is largely made up of Airbus A330
, Boeing 777
and 747
aircraft.
There have been a number of key developments within this fleet. In 2009, Lease Corporation International signed a firm purchase agreement for Bombardier
’s CSeries aircraft, with orders for three CS100 and 17 CS300 variants. The aircraft are due to enter service in 2013.
In November 2007, Lease Corporation International sold 20 aircraft to fast-growing Australia-based lessor, Global Aviation Asset Management (GAAM). The following month, Lease Corporation International acquired a Boeing 747-400
freighter
.
On 14 July 2007, LCI distributed a press release outlining their newly agreed lease
of the second of three Boeing 737-800 aircraft to Hong Kong Express Airways
.
By January 2008, Flight Global published news that LCI was embarking on a fleet renewal programme. The article outlined LCI’s commitment to acquire new aircraft worth around $750 million at list prices.
in 2003 and is its Chief Operating Officer
.
Having graduated from Imperial College with a Masters in Business Administration in 1993, Adam Tomazos went on to join the banking sector before joining Libra Capital.
Adam Tomazos was involved in the formation of Lease Corporation International and is now the company’s Chairman.
Speaking in 2009 about Lease Corporation International’s purchase of 20 Bombardier C Series aircraft, Adam said: “We are excited about the future of Bombardier’s CSeries jetliner
family. Market studies carried out by ourselves and other organisations see a large worldwide demand for aircraft in the 100- to 149-seat category over the next two decades and the CSeries jetliner family is a perfect fit.”
Educated at Imperial College London, Crispin has worked in the aviation industry since graduating with a degree in Aeronautical Engineering in 1971.
Speaking about the renewal of LCI’s fleet, Crispin said: “LCI is a dynamic lessor and this inevitably leads to a constant cycle of fleet renewal in a series of carefully timed acquisitions and disposals. We always aim to operate one of the youngest fleets in the leasing sector and to do this we need to continually refresh our portfolio.”
. Having graduated from Essex University, Jaspal completed his Economics Masters in 1996.
Jaspal joined Lease Corporation International in 2007 as Vice-President of Strategic Marketing, having worked for six years for AWAS as Strategic Economist.
2009 – Air Transport World
reported that LCI had six A330-300s on order, scheduled to be delivered at the end of 2010. The aircraft will be leased to Singapore Airlines
. Shephard.co.uk also reported the news.
2008 – On 5 June 2008, LCI issued a press release announcing the appointment of Praveen Vetrivel as the company’s Commercial Analyst.
2008 – On 13 May 2008, LCI announced the appointment of Martin Siegrist as Vice President, Technical.
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
.
It provides leasing services to national flag carriers including Air France
Air France
Air France , stylised as AIRFRANCE, is the French flag carrier headquartered in Tremblay-en-France, , and is one of the world's largest airlines. It is a subsidiary of the Air France-KLM Group and a founding member of the SkyTeam global airline alliance...
, British Airways
British Airways
British Airways is the flag carrier airline of the United Kingdom, based in Waterside, near its main hub at London Heathrow Airport. British Airways is the largest airline in the UK based on fleet size, international flights and international destinations...
, Finnair
Finnair
Finnair Plc is the flag carrier and largest airline of Finland, with its headquarters on the grounds of Helsinki Airport in Vantaa, Finland, and its main hub at Helsinki Airport. Finnair and its subsidiaries dominate both the domestic and international air travel markets in Finland. The largest...
and Singapore Airlines
Singapore Airlines
Singapore Airlines Limited is the flag carrier airline of Singapore. Singapore Airlines operates a hub at Changi Airport and has a strong presence in the Southeast Asia, East Asia, South Asia, and "Kangaroo Route" markets...
and is owned by The Libra Group
Libra Group
Libra Group is a privately owned conglomerate operating across four continents. The group’s subsidiaries span a range of industries including shipping, aviation, real estate, construction, energy and hospitality.-History:...
, a privately-owned conglomerate operating across four continents.
Company Background
Lease Corporation International was created in 2004 as a commercial aircraft leasing company, and provides aircraft for carriers including British AirwaysBritish Airways
British Airways is the flag carrier airline of the United Kingdom, based in Waterside, near its main hub at London Heathrow Airport. British Airways is the largest airline in the UK based on fleet size, international flights and international destinations...
, Air France, Iberia, Virgin Atlantic and Singapore Airlines. Lease Corporation International is part of The Libra Group
Libra Group
Libra Group is a privately owned conglomerate operating across four continents. The group’s subsidiaries span a range of industries including shipping, aviation, real estate, construction, energy and hospitality.-History:...
, a privately owned conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
, the subsidiaries which span a range of industries including shipping
Shipping
Shipping has multiple meanings. It can be a physical process of transporting commodities and merchandise goods and cargo, by land, air, and sea. It also can describe the movement of objects by ship.Land or "ground" shipping can be by train or by truck...
, aviation
Aviation
Aviation is the design, development, production, operation, and use of aircraft, especially heavier-than-air aircraft. Aviation is derived from avis, the Latin word for bird.-History:...
, real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
, construction
Construction
In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking...
, energy
Energy
In physics, energy is an indirectly observed quantity. It is often understood as the ability a physical system has to do work on other physical systems...
and hospitality
Hospitality
Hospitality is the relationship between guest and host, or the act or practice of being hospitable. Specifically, this includes the reception and entertainment of guests, visitors, or strangers, resorts, membership clubs, conventions, attractions, special events, and other services for travelers...
.
Lease Corporation International’s head office is in Dublin, with further offices in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
.
In April 2008, Airfinance Journal reported the opening of a Singapore office by LCI. The opening came about as the result of its formation of a new Singapore-based aircraft lessor, Singapore Commercial Leasing Pte.
Throughout its history, Lease Corporation International has acquired nearly $5billion of aircraft. On 15 February 2007, Commercial Aviation Report reported that LCI had become one of the largest privately held commercial aircraft leasing companies with eighteen aircraft in its portfolio.
Fleet and Services
Lease Corporation International currently maintains a fleetFleet
-Vehicles:A fleet is a collection of ships or vehicles, with many specific connotations:*Fleet vehicles, two or more vehicles*Fishing fleet*Naval fleet, substantial group of warships*A group of small ships or flotilla...
of 35 wide and narrow-bodied aircraft
Aircraft
An aircraft is a vehicle that is able to fly by gaining support from the air, or, in general, the atmosphere of a planet. An aircraft counters the force of gravity by using either static lift or by using the dynamic lift of an airfoil, or in a few cases the downward thrust from jet engines.Although...
which are leased to carriers such as Singapore Airlines
Singapore Airlines
Singapore Airlines Limited is the flag carrier airline of Singapore. Singapore Airlines operates a hub at Changi Airport and has a strong presence in the Southeast Asia, East Asia, South Asia, and "Kangaroo Route" markets...
, British Airways
British Airways
British Airways is the flag carrier airline of the United Kingdom, based in Waterside, near its main hub at London Heathrow Airport. British Airways is the largest airline in the UK based on fleet size, international flights and international destinations...
and Air France
Air France
Air France , stylised as AIRFRANCE, is the French flag carrier headquartered in Tremblay-en-France, , and is one of the world's largest airlines. It is a subsidiary of the Air France-KLM Group and a founding member of the SkyTeam global airline alliance...
.
The fleet is largely made up of Airbus A330
Airbus A330
The Airbus A330 is a wide-body twin-engine jet airliner made by Airbus, a division of EADS. Versions of the A330 have a range of and can accommodate up to 335 passengers in a two-class layout or carry of cargo....
, Boeing 777
Boeing 777
The Boeing 777 is a long-range, wide-body twin-engine jet airliner manufactured by Boeing Commercial Airplanes. It is the world's largest twinjet and is commonly referred to as the "Triple Seven". The aircraft has seating for over 300 passengers and has a range from , depending on model...
and 747
Boeing 747
The Boeing 747 is a wide-body commercial airliner and cargo transport, often referred to by its original nickname, Jumbo Jet, or Queen of the Skies. It is among the world's most recognizable aircraft, and was the first wide-body ever produced...
aircraft.
There have been a number of key developments within this fleet. In 2009, Lease Corporation International signed a firm purchase agreement for Bombardier
Bombardier Aerospace
Bombardier Aerospace is a division of Bombardier Inc. and is the third-largest airplane manufacturer in the world. It is headquartered in Dorval, Quebec, Canada.- History :...
’s CSeries aircraft, with orders for three CS100 and 17 CS300 variants. The aircraft are due to enter service in 2013.
In November 2007, Lease Corporation International sold 20 aircraft to fast-growing Australia-based lessor, Global Aviation Asset Management (GAAM). The following month, Lease Corporation International acquired a Boeing 747-400
Boeing 747-400
The Boeing 747-400 is a major development and the best-selling model of the Boeing 747 family of jet airliners. While retaining the four-engine wide-body layout of its predecessors, the 747-400 embodies numerous technological and structural changes to produce a more efficient airframe...
freighter
Cargo aircraft
A cargo aircraft is a fixed-wing aircraft designed or converted for the carriage of goods, rather than passengers. They are usually devoid of passenger amenities, and generally feature one or more large doors for the loading and unloading of cargo...
.
On 14 July 2007, LCI distributed a press release outlining their newly agreed lease
Lease
A lease is a contractual arrangement calling for the lessee to pay the lessor for use of an asset. A rental agreement is a lease in which the asset is tangible property...
of the second of three Boeing 737-800 aircraft to Hong Kong Express Airways
Hong Kong Express Airways
Hong Kong Express Airways Limited , is an airline based in Hong Kong, with its main hub at Hong Kong International Airport. The airline operates scheduled passenger services to 19 destinations in seven countries across Asia, including codeshares with its sister airline, Hong Kong Airlines...
.
By January 2008, Flight Global published news that LCI was embarking on a fleet renewal programme. The article outlined LCI’s commitment to acquire new aircraft worth around $750 million at list prices.
Adam Tomazos – Chairman
Adam Tomazos joined The Libra GroupLibra Group
Libra Group is a privately owned conglomerate operating across four continents. The group’s subsidiaries span a range of industries including shipping, aviation, real estate, construction, energy and hospitality.-History:...
in 2003 and is its Chief Operating Officer
Chief operating officer
A Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...
.
Having graduated from Imperial College with a Masters in Business Administration in 1993, Adam Tomazos went on to join the banking sector before joining Libra Capital.
Adam Tomazos was involved in the formation of Lease Corporation International and is now the company’s Chairman.
Speaking in 2009 about Lease Corporation International’s purchase of 20 Bombardier C Series aircraft, Adam said: “We are excited about the future of Bombardier’s CSeries jetliner
Jetliner
Jetliner are an alternative rock band from the USA. They focus on melodic piano based rock and have been compared to Queen and early Elton John, being heavily influenced by early 70s rock. Composed of Adam Paskowitz of The Flys, son of Doc Paskowitz, on piano and lead vocals, Jeff Kluesner on...
family. Market studies carried out by ourselves and other organisations see a large worldwide demand for aircraft in the 100- to 149-seat category over the next two decades and the CSeries jetliner family is a perfect fit.”
Crispin Maunder – Chief Executive Officer
Crispin Mander is Lease Corporation International’s Chief Executive Officer.Educated at Imperial College London, Crispin has worked in the aviation industry since graduating with a degree in Aeronautical Engineering in 1971.
Speaking about the renewal of LCI’s fleet, Crispin said: “LCI is a dynamic lessor and this inevitably leads to a constant cycle of fleet renewal in a series of carefully timed acquisitions and disposals. We always aim to operate one of the youngest fleets in the leasing sector and to do this we need to continually refresh our portfolio.”
Jaspal Jandu – Chief Financial Officer
Jaspal Jandu is Lease Corporation International’s Chief Financial OfficerChief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
. Having graduated from Essex University, Jaspal completed his Economics Masters in 1996.
Jaspal joined Lease Corporation International in 2007 as Vice-President of Strategic Marketing, having worked for six years for AWAS as Strategic Economist.
In The Press
2011 – On 6 June 2011, an article in Aviation Week announced the recent Braathens Aviation agreement to purchase 10 CSeries aircraft from Bombadier. LCI previously purchased 20 CSeries aircraft in 2009 as reported in Airfinance Journal and Centre for Asia Specific Aviation.2009 – Air Transport World
Air Transport World
Air Transport World is a monthly trade magazine covering the airline industry published by Penton Media. They also provide an online version with daily air transport news. The publication covers airline operations, market conditions, management, and related issues...
reported that LCI had six A330-300s on order, scheduled to be delivered at the end of 2010. The aircraft will be leased to Singapore Airlines
Singapore Airlines
Singapore Airlines Limited is the flag carrier airline of Singapore. Singapore Airlines operates a hub at Changi Airport and has a strong presence in the Southeast Asia, East Asia, South Asia, and "Kangaroo Route" markets...
. Shephard.co.uk also reported the news.
2008 – On 5 June 2008, LCI issued a press release announcing the appointment of Praveen Vetrivel as the company’s Commercial Analyst.
2008 – On 13 May 2008, LCI announced the appointment of Martin Siegrist as Vice President, Technical.