Søren M. Overgaard appointed as new CEO of Nordic Aviation Capital

Tuesday 17th November 2015

Nordic Aviation Capital (NAC), the world's largest regional turboprop lessor,

today (17th November) announced the appointment of Søren M. Overgaard as Chief Executive Officer, effective immediately.  Søren has played a key role within NAC's senior management team for the past three years, joining in 2012 as Chief Financial Officer.  He previously held senior positions with blue chip transportation company, the AP Moller Group, Maersk and Damco Europe.  He succeeds Kim Graven-Nielsen.

Martin Moller, Chairman of Nordic Aviation Capital, commented:  "I am delighted to welcome Søren to his new role.  We have an especially exciting year ahead in 2016 with increasing opportunities opening up worldwide in the regional airline sector.  Søren's deep knowledge of the business is invaluable. I would also like to thank Kim for his sterling contribution to NAC these past seven years.  He has played a key role in developing NAC and is now moving on to new ventures."

Kim Graven Nielsen stated: "It has been a very rewarding experience to be part of NAC since 2009, as few companies in the world grow and develop this fast.  I am proud of the Company, the employees and what we have all accomplished."

Nordic Aviation Capital has been profitable for the past two decades, achieving a 42% increase in operating profit to US$239 million in its latest financial year ending June 30, 2015.  Total assets increased by 45% to US$3.2 bn.  This summer the company welcomed private equity firm EQT and Kirkbi as partners.

About Nordic Aviation Capital

Founded in Denmark in 1990, NAC is today the world's largest independently owned aircraft leasing company with more than 240 aircraft in its portfolio.  NAC focuses on regional aircraft, mainly turboprop, serving 36 customers worldwide. The company has regional offices in Ireland, UK, Canada and Singapore, which supply aircraft to top tier carriers such as Lufthansa, Air France, US Airways, Garuda, Avianca, Flybe, Azul, Air Berlin and Etihad Regional (Darwin Airline). Nordic Aviation Capital's current fleet includes ATR 42, ATR 72, Bombardier Dash 8-300/Q400, CRJ 900/1000, Boeing 737, Airbus A320, and Saab 2000 aircraft.