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ITALY : Nordic Aviation Capital Signs Contract for 12 ATRs
Publish Date : 01-Oct-2011
Danish regional aircraft leasing company Nordic Aviation Capital (NAC) signed a contract to order 10 ATR 72-600s and two ATR 72-500s, and took options on 10 additional ATR 72-600s. ATR values the entire deal, including options, at $500 million.
The 10 firm ATR 72-600s and the options had been previously inked, as Heads of Agreement, by both companies at the Paris Air Show last June, and now confirmed by the final contract signature. With the additional 2 ATR 72-500s, NAC will bring to 103 the total fleet of ATRs in its portfolio. Deliveries of these two ATR 72-500s are scheduled before the end of the year. NAC will start receiving its ATR 72-600s next year.
Martin Møller, Chairman of NAC, said, “We have decided to introduce new ATR -600s and -500s into our portfolio because of their high popularity among regional carriers worldwide. ATR has a portfolio of more than 170 operators around the world, and we consider that these twelve new aircraft will bring us strong additional business opportunities. We have been leasing ATR aircraft for years, and we are fully satisfied with the commercial results they have been providing us all this time.”
Filippo Bagnato, Chief Executive Officer of ATR, underlines “the increasing interest of leasing companies into new ATR aircraft. In 2011, which is our best-selling year ever, we have booked more than 20% of sales with leasing companies. ATR aircraft are becoming a real asset for lessors. Because of their worldwide-recognized economics, ATRs are optimally positioned to optimize profitability margins among regional carriers. As a consequence, they become then also very popular among leasing firms. We are pleased to further consolidate with NAC such a fruitful and long-lasting partnership.
