PT Wings Abadi, operating as Wings Air and a subsidiary of Lion Air Group, has taken delivery of its fourth new ATR 72-600 aircraft leased from TrueNoord, the specialist regional aircraft lessor. This is the culmination of a deal that has already seen TrueNoord integrate three aircraft into the Wings Air fleet in August, October and November this year.
The aircraft are all provided on long term operating leases in association with Transportation Partners and ATR. Financing is provided under TrueNoord’s recent term loan warehouse facility supported by Morgan Stanley, NORD/LB Norddeutsche Landesbank and Barclays. Legal services were provided by the London and Singapore offices of Milbank, Tweed, Hadley & McCloy LLP and Indonesian law firm Mochtar, Karuwin & Komar.
Commenting at a convention for aviation finance in London, Anne-Bart Tieleman, CEO – TrueNoord, said “These are the first brand new ATRs for TrueNoord and it has been an exciting experience for us over the past five months. These aircraft sow the seeds of our ultimate vision and long term plan to build up a strong portfolio of young regional aircraft types with a good global spread and leased to experienced, market leading, operators.
Wings Air currently flies 270 routes across Indonesia mostly consisting of short-haul flights of less than one hour. Their fleet is exclusively comprised of propeller-based aircraft, allowing the airline to serve difficult routes and airstrips that only turboprop aircraft can service.”
