newstodate.aero

Mar 05, 2024 (newstodate): The Danish regional aircraft lessor, with HQ in Ireland, Nordic Aviation Capital exited 2023 in a good shape.
   NAC completed its restructuring after exiting Chapter 11 protection in June 2022 and as an integral part of the restructuring process the fleet owned and controlled by NAC as well as its order book has been slimmed significantly.
   At the end of 2022, the Group managed a fleet of 315 aircraft, compared to 480 by year-end 2021, and by the end of 2023 the fleet had further decreased to 270 aircraft including 265 for lease and five on finance lease contracts, while orders have been placed for 36 new aircraft including 16 ATR and 20 Airbus A220 aircraft.
   In 2023, NAC completed the sale of 60 aircraft, a mix of E1, Q400 and ATR aircraft, primarily sold to other lessors with some direct sales to lessees.
   -A top priority at NAC is to sell out-of-production Q400s and E1s and instead focus on best-in-class, more fuel-efficient regional aircraft like the ATR 72 and A220 families, plus expand into the much larger adjacent market of the Boeing 737 and Airbus A320 families, the company says in the 2023 report.
   In 2022, Nordic Aviation Capital became the launch lessor for Embraer's E-Jet P2F program by signing a contract with Embraer to convert 10 of its fleet of E190 and E195 aircraft from passenger to all-cargo configuration.
   In December 2023, Embraer completed the world's first cargo conversion of the E-190 aircraft, while starting conversion on the second E-190 and preparing for the first P2F of the Embraer E-195 as well.
   Delivery of this first all-cargo E1290 aircraft is slated for early 2024.