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Name: NORDIC AVIATION CAPITAL
7JetSet7 Code: NDC
Status: Operational
Region: EUROPE
City: STOCKHOLM
Country: SWEDEN
Employees 27
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Background
(definitions)

JET AIRPLANE LEASING COMPANY.

January 2017: Danish regional aircraft lessor Nordic Aviation Capital (NDC) has completed the acquisition of 2 ATR42-600 and 23 ATR72-600s from USA-based Air Lease Corporation (ALE).

Since undergoing a change of ownership, (NDC) has been highly acquisitive and is acquiring the ATRs, as well as 25 Embraer E175 and E190 aircraft, from (ALE) among a raft of other deals.

(NDC) Chairman Martin Møller announced the ATR deal, which was completed January 5, 2017.

Møller added the aircraft bring with them an “impressive client list” of 9 airlines. The 25 ATRs increase (NDC)’s total fleet to 380 aircraft, which are placed with >70 airline customers.

At the time of the original announcement in January 2016, Air Lease (ALE) said the ATRs had “served it well,” but turboprops represent <5% of its portfolio and it was disposing the fleet to focus on jets.

(NDC) has been on an acquisition spree since company founder Møller sold a majority stake to Swedish private equity group (EQT) in summer 2015, giving the lessor the financial muscle it needed to grow.

October 2017: Azul Brazilian Airlines (AZL) is selling 10 ATR72-600 turboprops to Nordic Aviation Capital (NDC), in a move to renew its fleet and reduce its debt by about -$103 million. The 1st 5 aircraft are expected to exit (AZL)’s fleet in 2017, followed by the rest in early 2018. (AZL) will end 2017 with 35 ATRs. The deal also involves (AZL) adding 3 new ATR72-600s under operating leases.

May 2018: "Nordic Aviation Capital Acquires Aldus Aviation’s E-Jet Portfolio" by Victoria Moores (victoria.moores@informa.com), ATWOnline, May 18, 2018.

Danish regional aircraft lessor Nordic Aviation Capital (NDC) has acquired all the aircraft owned by Aldus Aviation Fund (AAF), comprising 29 Embraer E-Jets.

(NDC) has managed the 29 aircraft since 2016, but on May 17 the company said it had acquired (AAF)’s portfolio.

The aircraft are currently leased to 9 airlines, including Air France (AFA) subsidiary HOP!, UK regional Flybe (BEE), and Royal Air Maroc (RAM). “The acquisition brings (NDC)’s owned fleet to 413 aircraft,” (NDC) said. The fleet comprises Embraer E170s, E175s, E190s, E195s, ATR42s, ATR72s and Bombardier Dash 8s, CRJ900s, CRJ1000s and CS300s. Beyond this, (NDC) has around 50 aircraft on order.

(NDC) was historically a specialist turboprop lessor, but since changing ownership in 2015, the company has established a position as a leading regional-jet lessor as well.

Acquisitions since the 2015 ownership change include USA-based Embraer leasing specialist Jetscape Aviation Group in March 2016 and USA-based Air Lease Corporation’s (ALE) fleet of 25 ATRs and 25 E-Jets.

(NDC) has aircraft on lease to >70 airlines in 47 countries.

August 2018: Nordic Aviation Capital (NDC) delivered 2 Embraer E195s to (LOT) Polish Airlines on lease.

December 2018: Nordic Aviation Capital (NDC) will lease 7 new Embraer E190s to Air France (AFA) regional subsidiary HOP!

Fleet:
(definitions)

December 2018:

0 737-200 (JT8D), LEASED TO (VSP).

0 747-200, LEASED TO (TOW).

1 ATR42-600, AIR LEASE CORPORATION (ALE) LEASED 2017-01.

23 ATR72-600, AIR LEASE CORPORATION (ALE) LEASED 2017-01.

25 EMBRAER E175 & E190, AIR LEASE CORPORATION (ALE) LEASED 2017-01.

7 EMBAER E190 LEASED TO AIR FRANCE (AFA) REGIONAL HOP! 2018-12.

2 EMBRAER E195, LEASED TO (LOT) POLISH AIRLINES 2018-08.

Management:
(definitions)

MARTIN MOLLER, CHAIRMAN, NORDIC AVIATION CAPITAL (NDC).

JOHAN CLAESSON, TECHNICAL MANAGER.

 
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