Nordic Aviation Capital (NAC) and ATR announced (03-Oct-2013) the signature to increase the order placed at the 2013 Paris Airshow by an order for additionally 15 firm ATRs and options for 25 aircraft. The value of the increase alone is USD1 billion. The cumulative orders placed in recent months by NAC reach 130 ATR aircraft, with 50 firm ATR -600 series aircraft and options for 80. In recent years, NAC has built up the largest portfolio of ATRs in the world. It currently manages a fleet of some 90 ATRs in operation, and within the next four years will expand its portfolio up to some 150 with the delivery of its remaining firm aircraft from ATR's backlog. Commenting on this announcement, NAC chairman Martin Møller declared: “We are pleased to have inked such an outstanding amount of ATRs this year, as this clearly underlines the business these aircraft are providing us all over the world. Their strong performance and reliability, coupled with their proven operational success in very different environments make them the right choice for us when thinking about expanding our regional aircraft activities. When a type of aircraft is operated by more than 180 airlines in more than 90 countries, you have the best proof of their popularity and convenience for regional networks”. ATR CEO Filippo Bagnato said: “In the last years, we have developed and consolidated a very fruitful partnership with NAC. The result of the strong work we have done together is that today the ATRs are entering into new markets, are being operated by an increasing number of airlines and are contributing to further deploy regional air connectivity in many countries. NAC is playing a key role in expanding the popularity of the newest ATR -600s all over the world”.[more - original PR]
Nordic Aviation Capital announces additional orders for 15 firm ATRs and 25 options
You may also be interested in the following articles...
Synergy spreads its wings to Argentina and Mexico to broaden its strategic Latin markets
After losing the competition to acquire a majority stake in TAP Portugal during 2015, the South American conglomerate Synergy Group has turned its attention to Argentina and Mexico – two of Latin America’s most promising markets. Mexico’s domestic passenger growth continues at a steady rate, and a more liberalised era ushered in by Argentina’s new government is opening up the country’s domestic and international markets to new competitors.
Synergy is taking a sizeable stake in the Mexican regional airline Aeromar, a small player in the country’s aviation market compared with the fast-growing low cost airlines that have grown rapidly during the last few years. Synergy decided to outline plans for its stake in Aeromar just as the US presidential election casts a cloud over the Mexican market due to president-elect Trump’s protectionist rhetoric during his campaign.
Synergy’s moves in Argentina and Mexico are occurring as Avianca Holdings searches for a strategic investor and foreign entities line up to invest in Latin American airlines. For now, Synergy remains Avianca’s largest shareholder.
LIAT’s woes reflect business conflicts, limited vision, in intra-regional Caribbean aviation
For intra-Caribbean aviation the old adage “the more things change, the more things stay the same” rings true. Unfortunately, the regional airline LIAT is a perfect example of an airline whose financial and operational failures are the epitome of stagnation in a region where outdated government policies constantly squash innovation.
During the past year some of the shareholder governments of the perpetually troubled airline have attempted to initiate tough love for LIAT, including threatening to withhold funds until LIAT can improve its service and operations. In some ways those threats are a double-edged sword – given the challenges of doing business in the region, a business environment largely driven by years of governments propping up state-owned airlines instead of allowing free market forces to take effect.
Although LIAT's shareholder governments would like to see more competition, the reality is that the aviation business in the Caribbean remains in a state of inertia, and all of LIAT's pledges for improvement will likely not materialise until a true mindset change sweeps over the region.