Nordic Aviation Capital Signs Contract for 10 ATR 72-600s and 2 ATR 72-500s

Released on Thursday, September 29, 2011
ATR 72
ATR 72-600
ATR - Avions de Transport Regional
NAC - Nordic Aviation Capital
US - United States
European turboprop manufacturer ATR and Danish regional aircraft leasing company Nordic Aviation Capital (NAC) today signed a contract for the purchase of 10 ATR 72-600s and 2 ATR 72-500s, plus options for 10 additional ATR 72-600s. The total amount of the deal, including options, is valued at US$ 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 unveiled today, 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.

Privately-owned NAC is the world's largest turboprop leasing company. It currently has a portfolio of some 170 aircraft, including their 12 ATR on order (10 ATR 72- 600s and 2 ATR 72-500s). NAC introduced ATR aircraft into its fleet in 2003, with the purchase of an ATR 42.

Martin M´┐Żller, Chairman of NAC, declares: "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 worldwiderecognized 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.

Source: Nordic Aviation Capital signs contract for 10 ATR 72-600s and 2 ATR 72-500s

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