‘Nordic Aviation Capital’ enters into a $200 million revolving investment with KIRK Aviation

Monday 23rd August, 2010

Nordic Aviation Capital (“NAC”), the world’s largest turboprop lessor, announced today it has entered into a $200 million revolving investment facility with Denmark’s KIRK Aviation (“KIRK”), a subsidiary of KIRK Kapital. The deal, NAC’s third investment transaction with KIRK Aviation, replaces a previously announced $100 million revolving investment facility. Furthermore, it builds on a strong relationship between the two organisations, first realised in their joint investment of 39 ATR72 aircraft leased to American Airlines in 2008.

“We are very pleased about this new transaction. We are proud of our relationship with KIRK, one of the most respected and largest investment funds in Denmark. This new facility clearly demonstrates the unique relationship and confidence between the two companies and will further enable us to continue with our strategy to build a joint portfolio of primarily regional aircraft, including new-build types,” said NAC Chairman of the Board Martin Møller.

The move comes after a very positive year for NAC, Møller noted. (Its fiscal year ended on June 30, 2010). “We have increased the portfolio to over 130 aircraft and our mainstay ATR 42 & 72, Dash 8 / Q400, Fokker 50, Saab 2000 fleet also includes several Boeing 737s and Bombardier CRJs.

NAC has also concluded a number of new-build aircraft leases in the past few months. “We are seeing that many airlines remain cautious when it comes to renewing existing fleet types and they are holding on to a fleet type. This situation is good for us,” he noted.

NAC will mark its 20th birthday in October 2010. The company provides aircraft to well known carriers such as Lufthansa, American Eagle/American Airlines, US Airways, SAS, Flybe, Olympic Airways, TACA and Air France affiliates; major regional carriers including TRIP, Wideroe and Aer Arann , as well as providing aircraft to airlines in emerging markets.

Editor’s Notes:
• Nordic Aviation Capital (“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 Singapore.
• NAC is dedicated to the worldwide sale, purchasing and financing of commercial turboprop and jet aircraft and currently has over 130 aircraft on lease worldwide and continues to expand its portfolio.
• Unlike other aircraft lessors, NAC specialises in turboprop aircraft and is the world’s largest turboprop lessor. In addition, NAC has also been a player in the jet market for many years and currently has a significant portfolio of jet aircraft.
• The current portfolio includes ATR, Bombardier, Fokker and Saab aircraft as well as Boeing 737 and Bombardier CRJ aircraft.

For additional information, please visit us at www.nac.dk.