Regional aircraft lessor Nordic Aviation Capital (NAC) has appointed Norman C.T. Liu as its new President, effective immediately. Liu is a highly accomplished global aviation executive, having been President of GE Capital Aviation Services (GECAS) between 2009 and 2016, and its Chairman in 2016.
The company has also made substantial progress in its restructuring with agreement reached on the outline terms of a framework with its largest creditor groups. The framework envisages a comprehensive restructuring of the company’s debt obligations (including the conversion of a substantial amount of the group’s debt to equity) and the provision of US$500 million of additional capital to best position NAC for future growth and success as global economic and industry conditions continue to improve.
