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TrueNoord acquires two Embraer E195s from Azul with leases attached

TrueNoord, the specialist regional aircraft lessor, continues its growth path with the addition of two Embraer E195 aircraft on lease to Portugália. Both aircraft, MSN19000407 and MSN19000429, were purchased with leases attached from Brazilian operator Azul.

The project was financed by TrueNoord's revolving warehouse facility underwritten by Citibank, Société Générale and Royal Bank of Canada. Legal counsel for TrueNoord on the acquisition was CMS, with Milbank advising on the financing.

With this acquisition, TrueNoord completes another significant milestone and reaches a fleet of 50 modern regional aircraft.

Portugália Airlines is a Portuguese regional airline. It is a subsidiary of TAP Air Portugal and operates scheduled international and domestic services from its bases at Lisbon Airport and Porto Airport under the brand TAP Express.

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