Posted on: 02 December 2010 by Ross McSweeny
airBaltic has finalised financing for all of its Bombardier Q400s through a sale and leaseback deal with Nordic Aviation Capital (NAC) and will receive the remaining five of the total eight ordered aircraft in the coming weeks.
“Completing financing for the Bombardier Q400 NextGen aircraft was a large transaction,” remarked Bertolt Flick, president and CEO of airBaltic. “These aircraft will allow airBaltic to maintain low unit costs. This is important in an environment, where fuel costs are growing and customers in our markets are becoming increasingly price-sensitive.”
All eight of airBaltic’s Bombardier Q400 NextGens – including the three already delivered – have been purchased by Nordic Aviation Capital. The value of the aircraft at list prices is $212 million.