Nordic Aviation Capital adds up to 75 ATR 42-600's to its portfolio

Tuesday 15th July 2014

Denmark's lessor continues to expand its regional aircraft fleet with 50 seat ATR's surpassing the landmark figure of 200 ATRs.

Nordic Aviation Capital (NAC), the largest regional aircraft trading and leasing company with the world's biggest ATR fleet, has signed a total order for 75 ATR 42-600 aircraft, in a deal valued at over US$1.55 billion. Deliveries will commence in 2015 through to 2020. By confirming this order for new ATR 42-600s - which includes 25 firm orders and 50 options for the type - NAC is once again demonstrating its full confidence in ATR - and this time, the smaller 50-seater ATR-42-600 series, in response to operator demand and recognizing that the replacement market for sub 50-seat turboprops is very under-served. The order builds on NAC's long relationship with ATR and its ongoing success with regional airline operators worldwide.

With this new order, totaling 75 aircraft, signed today at a special ceremony at the 2014 Farnborough Airshow, NAC solidifies its position as ATR's largest customer.

This landmark ATR order comes just one year after NAC signed an order for up to 90 ATR aircraft, a contract worth a total US$2.1 billion at the Paris Air Show. This was followed by an add on order worth a total of US$ 820 million of up to 35 ATR 600 series aircraft, announced during the ERA General Assembly in October 2013. Taking all NAC's commitments (firm and options) into account the figure now rises to well over 200 new aircraft, as this major European lessor continues to expand its fleet to meet the need for short-haul turboprops, servicing the world's growing regional aircraft fleet.

Martin Møller, Chairman of NAC, commented on the deal: "The ATR-600 series aircraft is firmly established as a long-term cornerstone of NAC's portfolio of modern, fuel efficient regional aircraft. Now we are seeing a renaissance for the ATR-42 too with the state of the art -600 Series as operators seek a replacement for their ageing sub 50-seat fleets. We are duly pleased to be the first leasing company to sign a significant order for the ATR-42-600. The ATRs allow us to offer our customers a significant reduction in fuel consumption and one of the most comfortable cabins in its class, through our tailored leasing solutions."

Patrick de Castelbajac, ATR's Chief Executive Officer, declared: "We are delighted to see NAC placing another very important order for the world's best-selling regional aircraft. Today at the Farnborough Airshow, where ATR and NAC finalized a contract covering over 75 new ATR-600s, we have confirmed once again the growing trend for our customers to have a balance between purchasing and leasing their ATR aircraft and that the ATR represents a solid investment for the leasing companies. The ATR-600 series aircraft is unrivalled in terms of its economic performance and product offering, and the aircraft's family of 50 and 70 seat capacity is the best solution to respond to the regional market requirements in regions around the world."

About Nordic Aviation Capital:

Founded in Skive, Denmark in 1990 NAC is today the world's largest independently owned aircraft leasing company. NAC focuses on regional aircraft, mainily turboprop with a fleet of nearly 200 aircraft and 36 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 Etihad Regional. For additional information, log on to www.nac.dk

About ATR:

ATR is the leader in the regional aviation market. ATR turboprop aircraft are recognized as the most eco-friendly regional airplanes and are the world benchmark in terms of efficiency, reliability and economics on short-haul routes. ATR is ISO 14001 certified. Today more than 180 operators fly ATRs in over 90 countries worldwide. ATR is an equal partnership between two major European aeronautics players, the Airbus Group and Alenia Aermacchi (a Finmeccanica Group company).