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Aug 21, 2020 (newstodate): The Danish regional aircraft leasing company Nordic Aviation Capital is a success story - but even NAC feels the plights of the aviation industry in pandemic times..
   On August 20, NAC announced its financial results for the 12-month period ending 30 June 2020, noting that 2019/2020 was an extremely challenging year for the business. And while NAC posted its strongest first-half financial performance in its 30-year history, it was followed by its most challenging last quarter to date on the back of the COVID-19 pandemic, the company says in its release.
   -At financial year-end, many of NAC’s customers had entered into short-term rental deferral agreements and/or were in arrears on their payment obligations. As a result, trade receivables and expected credit losses thereon have increased. Despite this, the cash collection rate on revenue during the financial year was 77 percent.
   NAC is sure, though, to ride through the storm as shareholders have injected additional capital, while lenders have agreed to standstill on and defer debt obligations for a period of 6-12 months, to ensure stability as the aviation market gradually recovers.
    At the end of the period reported, NAC owned and managed a fleet of 490 aircraft with commitments for another 71 aircraft, taking the fleet to 561
   And NAC remained the #1 regional lessor with the fleet representing eight percent of the global regional fleet and 29 percent of the regional fleet owned by lessors.