Posted on: 23 December 2015 by Ross McSweeny
Air Lease Corporation (ALC) has sold the 25 ATR aircraft in its fleet to Nordic Aviation Capital (NAC), the world’s largest lessor of turboprops.
ALC reported that the ATRs “have served ALC well in meeting the demand from airline customers operating shorter sector lengths”. As ALC’s business has matured, the lessor has focused more on its mainline jet aircraft operations reducing its turboprop aircraft to less than 5% of the fleet.
ALC’s statement continued: “NAC is a global leader specialising in meeting the needs of ATR turboprop operators and this transaction adds further scale to their business. ALC anticipates that a majority of aircraft transfers will occur during the first half of 2016.”
“This is a great result for ALC shareholders,” declared Steven Udvar-Házy, chairman and CEO of Air Lease Corporation. “Our ATR fleet is a profitable platform which assisted ALC with its early development. The sale of this portfolio allows us to deploy more capital to grow our mainline jet fleet”
“This fleet of ATR aircraft is a fantastic addition to our current portfolio of over 250 aircraft,” remarked Martin Møller, chairman of Nordic Aviation Capital. “ALC has built up an impressive group of ATR customers and we are delighted to add them to our growing list of customers. We look forward to providing them with the same high level of customer care that ALC has provided to them in recent years. We understand ALC’s desire to maintain focus on mainline jets as NAC will also continue to maintain its focus on our core regional aircraft market.”