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NAC fleet reaches 500 aircraft

Nordic Aviation Capital has increased its fleet to 500 aircraft and posted its best first-half financial performance for the first six months of its current financial year.

The Danish regional aircraft lessor, which has just opened a new headquarters building in the Irish city of Limerick, says it almost doubled its business-performance result to $98.1 million in the first half. Its financial year runs to 30 June.

It attributes its first-half success to “growth of the business, improved fleet utilisation, and continued lower operating and financing costs”.

Chief executive Soren Overgaard states: “Reaching a fleet of 500 aircraft is a significant milestone for the business and this, combined with our recent move to Gardens International [in Limerick], will enable us to realise and fulfil our future plans for the growth and development of NAC.”

The lessor says its fleet will “continue to grow” beyond 500 aircraft as it takes delivery of aircraft on order from Airbus and ATR. In June 2019, NAC signed a memorandum of understanding for 20 A220s and up to 105 of ATR’s -600-series turboprops.