TrueNoord, the specialist regional aircraft lessor, has leased three Embraer E190s to Finnair. These aircraft have been purchased with leases attached from GOAL Aircraft Leasing and they are being sub-leased and operated by Nordic Regional Airlines (NoRRA).
Financing was provided under TrueNoord’s term loan warehouse facility supported by Morgan Stanley, NORD/LB Norddeutsche Landesbank, Barclays and ABSA Bank. Hogan Lovells advised TrueNoord on the transaction and Dentons supported GOAL.
NoRRA operates a significant part of Finnair’s domestic and European traffic with over 50,000 flights yearly. The company’s modern and young fleet includes 24 aircraft. Twelve ATR turboprops for shorter journeys and smaller regional airports in the Nordic region, and twelve Embraer E190 jets, suited for slightly longer distances across European skies.
