Air Baltic arranges sale and lease for Q400 fleet

This story is sourced from Pro
See more Pro news »

Latvian carrier Air Baltic is preparing to take the remaining five of eight Bombardier Q400s after arranging a sale and leaseback for the type.

All eight of the twin-turboprops - including three previously owned by Air Baltic - have been purchased by Nordic Aviation Capital.

The company will lease the aircraft back to the Riga-based airline.

Air Baltic chief Bertolt Flick says the financing amounted to a "large transaction" for the airline. The total list value of the aircraft is $212 million.

He says that the Q400s, originally part of a fleet-renewal plan by former shareholder SAS Group, will "allow Air Baltic to maintain low unit costs".