TrueNoord has entered into a purchase agreement for an additional eight aircraft with Nordic Aviation Capital (NAC). This portfolio includes one Dash 8-400 and seven E190s and will increase TrueNoord's fleet of new and young turboprop and regional jets to a total of 94 aircraft.
The transaction includes four aircraft operating in the US, three in Europe and one in Australia, further balancing the global distribution of TrueNoord's fleet. The integration of all eight aircraft is planned for the second quarter of 2024.
The signing of this extensive sales agreement is further testament to the positive business relationship the two leasing companies enjoy and follows two significant portfolio acquisitions announced in January and December 2023, for 10 and 11 aircraft respectively. Richard Jacobs, Chief Commercial Officer of TrueNoord, comments: “These are exciting times at TrueNoord as we continue to develop the business and expand our global fleet. We appreciate the professionalism and support of the NAC team and look forward to completing this mutually beneficial transaction as both parties pursue their own strategic growth plans.
"It is encouraging to see how buoyant the regional aviation sector is, with values increasing and leasing rates continuing to trend upward. We are already evaluating further portfolio transactions between leasing companies and with our secure financing and a robust team, we are well positioned to explore new opportunities as the market continues to open up."