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Nordic Aviation Capital places a landmark order for 90 ATR -600s

June 24, 2013 Aviation No Comments Email Email

The European turboprop manufacturer ATR and the Danish leasing company Nordic Aviation Capital (NAC) signed a historic agreement today for the sale of 90 ATR -600s, including 35 firm orders (30 ATR 72-600s and 5 ATR 42-600s).

The contract, including options, amounts to over US$ 2.1 billion.

NAC, which has signed several orders for new ATRs over the past three years, already has the largest fleet of ATRs in the world with over hundred aircraft. With the progressive arrival of the 30 additional ATR 72-600s and 5 ATR 42-600s into its fleet, NAC’s ATR portfolio will exceed 150 aircraft by 2016.

Martin Møller, Chairman of NAC, said: “We have made ATR turboprops one of the main pillars of our present and future development. We believe that regional aviation in the years to come will increasingly rely on this outstanding technology, and that ATR aircraft will continue to see great success with airlines operating in this segment. The 180 airlines operating ATRs around the world represent so many opportunities for us to grow our business.” He added: “Our experience as lessors confirms the strong demand for ATRs with regional airlines. Their very low operating costs and high reliability are the major drivers for ensuring profitability, both for airlines and for ourselves.”

Filippo Bagnato, Chief Executive Officer of ATR, said: “This is a landmark order for ATR and our new generation aircraft as well as for this dynamic leasing company. It is a validation of the desirability of our aircraft and recognition of their high residual value”. He added “NAC’s order is indisputable proof of a return to the future for propeller aircraft and the market confidence in our product.”

In the past three years, nearly one in four ATRs were sold to leasing companies. NAC has been at the forefront of this development due to their unique focus and expertise on turboprop aircraft. NAC believes that turboprop’ aircraft will become the key element for the development of regional aviation and with this order they cement their position as the leading lessor of turboprop aircraft.

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