TrueNoord, a prominent player in regional aircraft leasing, has announced its latest portfolio trade involving 11 aircraft with Nordic Aviation Capital (NAC). The diverse aircraft portfolio includes four Dash 8-400s, three E175s and four E190s, contributing to TrueNoord’s growing fleet of new and young in-production turboprop and regional jets, now totaling 87 aircraft. The transaction marks the inclusion of Australian airline Aviair and European lessee airlines LOT and Widerøe into TrueNoord’s network. Additionally, it strengthens relationships with existing North American airline customers, Air Canada and Breeze Airways. The integration of all 11 aircraft is anticipated to be completed in the first quarter of 2024.
This significant sales agreement is the second substantial transaction between TrueNoord and NAC, following the company’s acquisition of ten Embraer jets earlier in 2023. Richard Jacobs, Chief Commercial Officer at TrueNoord, notes that the positive experience from the previous deal has built trust and streamlined processes between the two lessors. Jacobs expects the execution of this second transaction to be faster and simpler, thanks to the established working relationship.
The deal underscores the distinct strategic growth paths of both companies and reiterates TrueNoord’s unwavering commitment to the regional aircraft leasing sector. Despite industry challenges stemming from economic pressures and the lingering effects of the COVID-19 pandemic, TrueNoord remains well-positioned with secure funding and a robust internal team, supporting its balanced and structured growth aspirations.
