Nordic Aviation Capital (NAC), the largest lessor of ATR aircraft, stated it has become the owner of the 1000th aircraft off the Toulouse production line which is being formally handed over to Spanish regional carrier Air Nostrum on 03-May-2012. The ATR72-600 is the first of its type in NAC’s 100-plus ATR portfolio. NAC was awarded RFP from Air Nostrum to transact the aircraft in Sep-2011. NAC secured financing for the first of five ATR72-600s, all destined for the Iberia-backed regional carrier, from Deutsche Bank AG and KfW IPEX-Bank under a sale and lease back arrangement. Delivery of the remaining aircraft will follow from the end of May-2012 through to the end of Jul-2012. NAC has been leasing ATR aircraft since 2003 and currently has has 31 ATR42s and 55 ATR72s operating around the world with leading carriers such as Lufthansa Regional, Air Dolomiti, American Eagle, TRIP of Brazil, Air Arann, TACA and SATENA. [more - original PR]
Nordic Aviation Capital leases milestone 1000th ATR aircraft to Air Nostrum
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Malaysia Airlines' Firefly Part 2: overcapacity at Kuala Lumpur Subang leads to restructuring
Overcapacity at Kuala Lumpur Subang Airport has forced the Malaysia Airlines Group to restructure its regional subsidiary Firefly. The airline has cut its fleet and implemented a new reduced schedule in hopes of improving yields and load factors.
Closer integration with Malaysia Airlines is being pursued, resulting in codeshares, frequent flier tie-ups and potentially a rebranding. Firefly remains an important component of the Malaysia Airlines Group, which also has restructured over the last two years, but a smaller operation is required to restore profitability in an extremely challenging marketplace.
The Subang market is relatively limited in size with only six sizeable domestic routes from Subang, all of which are now suffering from overcapacity due to aggressive and rapid expansion from Lion Group's Malaysian affiliate Malindo Air. The irrational dogfight that has emerged between Malindo and Firefly at Subang is a potential precursor of a bigger looming battle at much larger Kuala Lumpur International Airport (KLIA) between Malindo and the Malaysia Airlines Group.
Malaysia Airlines subsidiary Firefly reduces ATR fleet as competition with Malindo intensifies
Malaysia Airlines regional subsidiary Firefly has cut its fleet by six aircraft and slashed domestic capacity at its Kuala Lumpur Subang Airport base by approximately 40% as part of a turnaround attempt. Firefly now operates only 12 ATR 72 turboprops, down from 18 aircraft a few months ago.
Firefly has been significantly impacted by extremely aggressive expansion at Lion Group’s Malaysian JV, Malindo Air. Malindo has quickly expanded its Subang operation since it was launched in 2013 and now has 16 ATR 72s, all of which are based at Subang.
Malindo has injected new competition across all of Firefly’s previously exclusive domestic routes from Subang. While Malindo has been able to stimulate some demand, yields have plummeted and load factors are very low.