TrueNoord announces third portfolio trade with Nordic Aviation Capital for an additional eight aircraft

“We are very pleased to complete the sale agreement for this latest portfolio acquisition from NAC, increasing our purchase commitment to a total of 29 aircraft from them over the last 16 months.” Richard Jacobs, TrueNoord, Chief Commercial Officer.

TrueNoord has completed a sale agreement for a further eight aircraft with Nordic Aviation Capital (NAC). This portfolio of aircraft, comprising one Dash 8-400 and seven E190s, will increase TrueNoord’s fleet of new and young in-production turboprop and regional jets to 94 aircraft. The transaction comprises four aircraft operating in the USA, three in Europe, and one in Australia, further balancing the global spread of TrueNoord’s fleet. The integration of all eight aircraft is targeted to be completed during Q2 2024.

The signing of this sizable sales agreement is further testament to the positive business relationship the two lessors enjoy, and follows two significant portfolio acquisitions announced in January and December 2023, for 10 and 11 aircraft respectively. Richard Jacobs, Chief Commercial Officer, TrueNoord, comments, “These are exciting times at TrueNoord, as we continue to develop the business and increase our global fleet. We appreciate the professionalism and support of the NAC team, and look forward to closing this mutually beneficial transaction, as both parties pursue their own strategic growth plans.

“It is encouraging to see the buoyancy of the regional aviation sector, with values and lease rates continuing on an upward trend. We are already exploring further lessor-to-lessor portfolio trades, and with our secure funding and robust team in place, we are well placed to consider new opportunities as the market continues to open up.”

1 May 2024