Lease Corporation International

Lease Corporation International

IATA ICAO Call sign — LCI —
Founded	2004
Fleet size	35
Destinations	N/A
Headquarters	Dublin, Ireland
Key people	Adam Tomazos (Chairman) Crispin Maunder (CEO) Jaspal Jandu (CFO)
Website	www.lciaviation.com

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.

Company Background

Lease Corporation International was created in 2004 as a commercial aircraft leasing company, and provides aircraft for carriers including British Airways, 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.

Fleet and Services

Lease Corporation International currently maintains a fleet 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.

Key People

Adam Tomazos – Chairman

Adam Tomazos joined The Libra Group 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.”

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 Officer. 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 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.