TrueNoord celebrates induction of 29th aircraft acquired from Nordic Aviation Capital as latest portfolio trade is completed

“This transaction underscores our commitment to strategically expand our fleet while building on our positive relationship with NAC. We’ve successfully novated 29 aircraft with the conclusion of this transaction and added new airline customers across the world, strengthening our position as a leading regional aircraft lessor” Abhineet Awasthi, Transaction Manager, TrueNoord.

TrueNoord has finalised the purchase of an additional eight aircraft from Nordic Aviation Capital (NAC). The transaction, which was first announced in May this year, comprised four E190s operating with existing lessee Breeze Airways in the USA, three E190s in Europe with operator LOT, and one further Dash 8-400 with Nexus Airlines in Australia. The novation of these aircraft significantly increases TrueNoord’s global fleet to a total of 94 regional jets and turboprops.

Beata Stachowicz, TrueNoord’s Team Lead of Transaction & Lease Management, whose team members were instrumental in closing the transactions, explains how the collaboration with NAC has strengthened over the course of the three portfolio deals finalised in the last two years. “We were pleased to complete the novation of these eight aircraft so swiftly, which is testament to our strong working relationship with NAC. Both teams worked closely together, demonstrating a high level of experience, knowledge and adaptability, allowing us to navigate the varied challenges of the transactions effectively. This deal also highlights the value of a long-term partnership, having already completed two prior transactions with NAC, our teams were able to build on the momentum and learnings from those deals to successfully expedite this one.”

Jack Hynes, Nordic Aviation Capital’s Vice President Aircraft Trading comments, “We are delighted to complete another portfolio sale with TrueNoord. We extend our thanks to their team for their continued collaboration and we look forward to working with them on further opportunities in the future. We would also like to extend our thanks to the lessees, for their support with the sales.”

As well as increasing TrueNoord’s fleet to 94 aircraft, the conclusion of this sale agreement also marks a number of other milestones for the regional lessor and further balances their global footprint, with a total of 27 airline customers active in 21 countries. TrueNoord’s relationship with Breeze is expanded with eight E190s now flying as part of the North American carrier’s fleet. TrueNoord’s representation in Australia is also enhanced with Nexus Airlines now operating three TrueNoord owned turboprops in the region, and LOT became TrueNoord’s first carrier in Poland with a total of six E190s joining their fleet over the last two NAC transactions.

“This growth allows us to better serve a wider range of airlines across multiple regions, solidifying our presence globally” says Abhineet Awasthi, member of the Transaction & Lease Management Team. “Our expanded fleet positions us as a leading player in the regional aircraft leasing market and reflects our ability to offer tailored leasing solutions that align with regional demands and market conditions. The increase to 94 aircraft also means we have a stronger global network of relationships with operators and industry stakeholders such as NAC, further reinforcing our ability to capitalise on market opportunities. Our enlarged fleet size boosts our scale, diversity, and ability to provide aircraft to a broader range of airline customers.”

19 September 2024