TrueNoord adds ten Embraer aircraft to portfolio

TrueNoord has completed a sale agreement for eight Embraer E190s and two E175s. The transaction from Nordic Aviation Capital (NAC) has increased TrueNoord’s portfolio to 70 aircraft.

The transaction, financed by TrueNoord’s current warehouse facility, funds new acquisitions and supports its targeted growth strategy in the 50 to 150 seat market segment. The regional aircraft Lessor aims to integrate all ten Embraers fully by April.

Richard Jacobs, Chief Commercial Officer, TrueNoord, was pleased with the partnership during the transaction: “With half of these aircraft operated by North American lessees, it has brought the TrueNoord portfolio more in line with the distribution of the worldwide aircraft fleet. The NAC portfolio is a good match with the younger E-190s in our current fleet and we anticipate that groundwork laid by this transaction will spearhead further deals in the future.”

“With our secure funding we envisage more portfolio transaction opportunities and for this particular transaction are pleased to support the execution of NAC’s new business strategy moving forwards,” added Anne-Bart Tieleman, CEO, TrueNoord, who expects more lessor-to-lessor trades in the future.

“We are already exploring opportunities and it is good to see this market now opening up after a relative silence during the last two years,” he said.