Regional aircraft lessor, TrueNoord, has completed a sale agreement to acquire 11 aircraft from Nordic Aviation Capital (NAC). This portfolio of aircraft, comprising four Dash 8-400s, three E175s and four E190s, will increase TrueNoord’s fleet of turboprop and regional jets to 87 aircraft.

The transaction will see the lessor work with new lessee airlines including  LOT and Widerøe in Europe and Aviair in Australia, as well as increasing its footprint with existing North American airline customers, Air Canada and Breeze Airways. The integration of all 11 aircraft is targeted to be completed during Q1 2024.

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The signing of this sales agreement marks the second sizable transaction between the two lessors, following TrueNoord’s acquisition of 10 Embraer jets from NAC earlier in 2023. Richard Jacobs, Chief Commercial Officer, TrueNoord, said: “The regional aircraft market has sprung back and demand is outstripping the true availability of aircraft, with assets grounded largely due to a combination of return conditions and supply chain delays. So, we are seeing a positive trend of values and lease rents and expect this trend to continue, as the supply chain remains tight and issues impact the new generation of narrowbody aircraft. Another influencing factor is that many network operators have relied on their regional network during COVID and they are continuing to use their regional aircraft to right-size their fleet and generate better yields.”