Thu, Dec 04, 2008
Regional Carrier Will Continue Operating Planes On
Nordic Aviation Capital A/S and KIRK Kapital A/S announced
Tuesday an agreement for a sale and leaseback transaction with AMR
Leasing Corporation for 39 ATR 72 aircraft operated by Executive
Airlines, which does business as American Airlines' regional
subsidiary American Eagle.
AMR Leasing Corporation will sell the 39 ATR 72 aircraft to an
entity that will lease the aircraft to NK Aviation Limited,
Ireland, a newly formed joint venture between NAC and Kirk Kapital
A/S. Executive Airlines will lease the aircraft back through a
sublease structure and will continue to be the operator of the
aircraft. NAC will be the servicer for the aircraft.
The deal is worth approximately $200 million in immediate cash
for American, reports The Associated Press.
Nordic Aviation Capital's current fleet of nearly 80 aircraft
includes, Boeing 737, MD83, CRJ200, ATR 42, Bombardier Dash 8 and
Fokker 50 and Saab 2000 aircraft. Our customers include US Airways,
SAS, TACA, Wideroe, Cimber Air and Air Baltic.
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