Management re-organisation at Nordic Aviation Capital

Tuesday 12th January, 2010

Nordic Aviation Capital (“NAC”) has announced a management change and additions to its Board effective January 4, 2010. Jan Melgaard, CEO of the company since September 2008 departed the company on January 4 by mutual consent. Niels Ulsoe, his predecessor, is resuming the CEO role for the foreseeable future.

In addition, two leading Danish business personalities have joined the Board. Kim Graven Nielsen has a varied international business career, mainly in strategic management and investment. Currently he is CEO of Denmark-based EDSA and has held several other Chairman and Board member positions. Niels deConinck–Smith has enjoyed a long career as CEO with a major Danish pharmaceutical company and in senior partnerships with renowned management consultancy McKinsey. He is currently Chairman of the Board of Encase Ltd and a Board member of several major Danish companies. They are now bringing their strong business acumen to NAC, the world’s largest independent regional aircraft lessor.

Privately-owned NAC was established in Denmark in 1990. Its principal headquarters in Billund, Denmark are complemented by regional offices in the US, Ireland, France, Switzerland and most recently, Singapore.

NAC is dedicated to the worldwide sale, purchasing and financing of commercial turboprop and jet aircraft. The organisation has over 130 aircraft on lease worldwide and continues to expand its portfolio. NAC has also been a player in the jet market for many years and currently has a significant portfolio of jet aircraft.

Its current portfolio includes ATR, Bombardier, Fokker and Saab aircraft as well as Boeing 737 and Bombardier CRJ aircraft. Customers include Lufthansa, American Eagle/American Airlines, US Airways, SAS, FlyBE, TACA, Air Baltic, Cimber Air, Wideroe and Carpatair.

www.nac.dk.