Nordic Aviation Capital keeps Garuda’s ATR 72 financing open

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Operating lessor Nordic Aviation Capital (NAC) is still deciding which financing option it will select to fund ATR 72-600 turboprops on lease to Garuda Indonesia.

The Danish lessor will lease a total of 25 aircraft to the Indonesian carrier, in a deal that was announced earlier today.

In an interview with Flightglobal, NAC’s chairman Martin Moller says the first 70-seat aircraft, scheduled to deliver next month, will be financed using the lessor’s own cash.

“We will use our liquidity with the view to refinance the aircraft either through commercial lending or export credit,” he says.

He expects the refinancing to close this quarter.

Another ATR 72-600 will be delivered before the end of the year. Deliveries will continue during the next four years.