Nordic Aviation Capital signs contract for six ATR72-600s with expanding Danish charter company Jet Time A/S.

Thursday 20th June 2013

Copenhagen, Denmark-based air charter company Jet Time was at the Paris Airshow this week to ratify a new lease contract with Nordic Aviation Capital (NAC) for six ATR72-600 aircraft.  The first two firm aircraft will be delivered in October this year where they will immediately start on an ACMI wet-lease contract with Scandinavian Airlines (SAS).

"We are delighted to introduce this new aircraft type into our fleet and to initiate ACMI work with a hugely popular regional aircraft," said Klaus Ren, President and CEO of Jet Time.  "We will be drawing on our experience over the past seven years offering ACMI services with our Boeing 737-300 and 737-700 fleet, supporting 36 different airlines.  This is a new model we are bringing to the ACMI market and we do so in response to customer demand," he added.  The ATRs, which will be configured for 70 single class seats,  will be offered for sub contract charter out of both Copenhagen and Stockholm Airports.  A recruitment campaign is currently underway to employ flight and cabin crew in readiness for the type's arrival.

"We are delighted to be helping to further Jet Time's expansion to create a dedicated ACMI operation for Scandinavia and northern Europe," said NAC Chairman Martin Moller.  "It is a natural progression to the company's established leisure and ACMI business and the new ATR72-600 is ideal for business flights on regional and domestic routes."

Today's announcement follows hard on the heels of NAC's landmark order at the Paris Airshow Show on Tuesday 18th June for a total 90 ATR-600 aircraft, representing its largest ever aircraft order to date.   The deal covers 35 firm orders (30 ATR72-600s and five ATR42-600s) - a contract worth a total US$2.1 billion.  As a result NAC's ATR portfolio will exceed 150 aircraft by 2016.  Overall the order bolsters its total aircraft portfolio to nearly 300 aircraft.

Martin Moller highlighted that the ATR-600 was "far ahead of its time," and now, after 25 years' operations it is finally being recognized as the turboprop of the future, enjoying the highest ever production rates.  "We love this product," he said.  In addition to the commitment from Jet Time which has secured early delivery positions from NAC's newest order, NAC is also experiencing considerable demand for the aircraft in Asia and in South and Central USA, he said.  

Over the past three years, nearly one in four ATRs has been sold to leasing companies. NAC has been at the forefront of this development due to their unique focus and expertise on turboprop aircraft.

About Nordic Aviation Capital:  Founded in 1990 in Denmark, Nordic Aviation Capital is headquartered in Billund (Denmark). NAC is the global leader in turboprop leasing and finance with over 180 aircraft and 35 customers worldwide. The company has regional offices in Ireland, Canada and Singapore which supply aircraft to top tier carriers such as Lufthansa, Air France, US Airways, Garuda, Avianca, Flybe, Azul and Air Berlin. For additional information, log on to:  www.nac.dk

About Jet Time:  Privately owned Jet Time A/S was founded in March 2006 by a number of renowned Danish business people with experience in the Danish airline and charter business.  Based at Copenhagen Airport, it specialises in providing contract and ad-hoc passenger and freight charters throughout Europe. It also provides VIP bespoke charters tailored to individual client's demands, offering a luxury service for up to 80-100 passengers.  Jet Time operates Boeing 737-300 and Boeing 737-700 aircraft and is the only operator in Scandinavia to operate a Boeing 737-QC (quick change) freight aircraft.

www.jet-time.dk.