The award categories evolve with markets but the awards always consist of regional winners, a most innovative award and an overall winner. The editor’s award is for special achievement but not always given to a financing, it has also been awarded for mergers and acquisitions. We do not give out institutional awards to lenders or lessors – we do not feel it easy to chose between lenders that offer different things like export credit or freighter conversions. We do recognise airlines and airline treasury teams.
We take the awards seriously – and are always delighted that so many people in the industry do – however, we do not structure deals so may miss subtleties. We also care what you think. If you have any comments please email ssegal@euromoneyplc.com
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Overall: Continental EETC
The $1.14 billion deal funded all of the carrier’s 2008 deliveries
Most innovative: Airspeed Securitization for RBS Aviation Capital
Airspeed transferred ownership of 36 aircraft from RBS Aviation Capital to investors. The deal would be impossible now.
Editor’s Award: Awas acquisition of Pegasus
Guaranteed Awas’s place in the top leasing ranks.
Airline of the Year: Royal Jordanian
The carrier’s strong strategy helped it become the first Middle Eastern airline to float.
Treasury Team of the Year: Northwest Airlines
A final recognition for Northwest’s team.
Aerospace Finance: Embraer’s customer portfolio financing
The deal helped free up capacity so the manufacturer could support deliveries in 2008.
Africa: Ethiopian PDPs on 787s
Much harder to close now as banks move away from PDPs
Airport: Airport Authority Hong Kong
Just 14 basis points over Hibor.
Asia-Pacific: Macquarie buys GATX
One of the last non-distressed lessor sales, with a complicate financing structure because of GATX’s joint ventures.
Cargo Finance: Cargolux
The two deals – a joint venture financing and a rarely seen Luxembourg leveraged lease – removed risk from the cargo carrier as it prepares to receive 747-8 Freighters.
European (joint): Babcock & Brown IPO and securitization
Recognised the last listed-lessor to float – possibly ever.
European (joint): Aegean Airlines IPO
Aegean was the only European airline to float in 2007 and timed its IPO perfectly.
Engine deal: Engine Lease Finance sells 28 engines to GSI
Engine Lease Finance introduced a new type of investor to engine leasing with similar deals closing in 2008.
Latin American: TAM senior notes
A well timed, well executed deal with a 7.37% coupon.
Middle East: Etihad French lease
French banks clubbed together on first European deal for Etihad.
North American: Northwest restructuring
The deal that allowed the airline to merge with Delta.
PDP Deal: Aerologic
Financed eight 777Fs for Lufthansa and DHL Cargo due in 2009 and 2010.