newstodate.aero
Jun 08, 2020 (newstodate): Pockets may be deep at the Danish aircraft lessor Nordic Aviation Capital - but the corona crisis hits anyway..
The company's shareholders have now agreed to inject $60m of new equity into the company to bolster it through the current turbulence in the industry.
In another move, NAC has applied to the High Court in Dublin, launching a Scheme of Arrangement under the Irish Companies Act to allow it to standstill and defer the payments of interest and principal on its borrowings, covering the next 6-12 months.
-The anticipation of a prolonged recovery from COVID-19 drove the requirement to undertake this complex engagement process with our lenders. We remain committed to emerging stronger and more robust in the aftermath of the pandemic. While the extent and the full impact of COVID-19 is as yet unknown, we remain confident that the regional sector will recover first and of our ability to navigate through this challenging period, Soren Overgaard, NAC CEO, says in a statement.
The company's fleet has now reached the 500-unit bar and includes 156 ATR72, 156 Embraer E190/195, 90 Dash-8, 33 ATR42, 27 Embraer E170/175, 23 Bombardier CRJ900/1000, and 15 Airbus A220 aircraft.
At the Paris Air Show 2019, NAC signed a MoU with Airbus for the acquisition of 20 A220 Family aircraft, and an LoI with ATR for delivery of up to over 100 ATR72-600 aircraft including firm orders for 35 ATR72-600, with options for a further 35 and purchase rights for another 35 aircraft.
The company's shareholders have now agreed to inject $60m of new equity into the company to bolster it through the current turbulence in the industry.
In another move, NAC has applied to the High Court in Dublin, launching a Scheme of Arrangement under the Irish Companies Act to allow it to standstill and defer the payments of interest and principal on its borrowings, covering the next 6-12 months.
-The anticipation of a prolonged recovery from COVID-19 drove the requirement to undertake this complex engagement process with our lenders. We remain committed to emerging stronger and more robust in the aftermath of the pandemic. While the extent and the full impact of COVID-19 is as yet unknown, we remain confident that the regional sector will recover first and of our ability to navigate through this challenging period, Soren Overgaard, NAC CEO, says in a statement.
The company's fleet has now reached the 500-unit bar and includes 156 ATR72, 156 Embraer E190/195, 90 Dash-8, 33 ATR42, 27 Embraer E170/175, 23 Bombardier CRJ900/1000, and 15 Airbus A220 aircraft.
At the Paris Air Show 2019, NAC signed a MoU with Airbus for the acquisition of 20 A220 Family aircraft, and an LoI with ATR for delivery of up to over 100 ATR72-600 aircraft including firm orders for 35 ATR72-600, with options for a further 35 and purchase rights for another 35 aircraft.