Nordic Aviation Capital secures purchase of Irish leasing company Aldus Aviation

Friday 15th April 2016

Aviation - Aldus is the second Embraer leasing platform to join the NAC stable following the recent Jetscape deal.

Nordic Aviation Capital (NAC) announced today that it is to acquire Irish aviation leasing company Aldus Aviation Limited (Aldus), the Shannon-based specialist in Embraer E-Jet operating leases. Founded in 2008, in the teeth of the recession, the business has steadily expanded and today manages a fleet of 30 E-Jet aircraft, operating with airlines around the world.

Aldus is a good fit for NAC, the world's largest turboprop lessor, which recently announced its expansion into regional jet leasing with the purchase of Jetscape, another E-Jet leasing company specialist.

Aldus will eventually operate under the NAC brand, establishing Nordic Aviation Capital as one of the largest players in the large regional jet and large turboprop sector. Aldus adds a further 30 managed regional jets to NAC's expanding portfolio, bolstering the combined delivered fleet to a total of 294 aircraft + 48 managed. In addition, the group has a further 74 aircraft on firm order (20 E-Jet, 54 ATR).

"We have much respect for the work Aldus and its management team have achieved in growing their business these past eight years, building up a portfolio of Embraer 170/175/190 and 195 Jets, flying with prestige airlines in nine countries. Aldus, with its likeminded business ethos, brings much synergy to our business, a win-win for us and our customer base. We hope to receive the relevant regulatory approvals in the coming 2-4 weeks" commented Martin Moller, NAC Chairman.

Aldus CEO, Steven Gorman, added, "NAC is widely regarded for its dynamic entrepreneurial spirit, responding to the market and investing at the right time. This is a sound development for our company and our employees, and we are looking forward to growing the business with our new partners from NAC and Jetscape."

Together with Jetscape, the three combined businesses will support some 169 employees, and going forward, NAC will be able to serve an ever greater customer base with a substantially wider range of lease and associated services.

About Nordic Aviation Capital

Founded in Denmark in 1990, NAC is the world's largest independently owned aircraft leasing company with close to 300 aircraft in its portfolio. NAC focuses on regional aircraft, mainly turboprop, serving 40+ customers worldwide.

The company has regional offices in Ireland, UK, Canada and Singapore, which supply aircraft to top tier carriers such as Air France, Garuda, Flybe, Azul, Air Berlin, Republic, Air Canada, GoJet and Etihad Regional (Darwin Airline). Nordic Aviation Capital's current fleet includes ATR 42, ATR 72, Bombardier Dash 8-300/Q400, CRJ900/1000, Boeing 737, Airbus A320, and Saab 2000 aircraft.

About Aldus Aviation

Founded in Ireland in 2008, the company is an established lessor in the 70-130 seat segment. It manages 30 aircraft operating in nine countries with nine airlines. Its 30 aircraft fleet operates in Europe, Africa, South America and Oceania and includes five E-170, four E-175, 15 E-190 and six E-195. Customers include Alitalia, Aeromexico, BoraJet, HOP!, Azul, Kalstar Aviation, Virgin Blue, Azul Linhas Aereas Brasilerias and Flybe.

About Jetscape

Founded in 2000, Jetscape is based in Fort Lauderdale, US and has a European office in Malta. It is active in Europe, the Americas and Oceania with 32 owned aircraft (18 E-190, nine E-175, three E-170 and two E-195. Customers include British Airways (CityFlyer); Aeromexico; LOT Polish Airlines, Air North, Air Astana, Gulf Air, Azul, Kenya Airways, TACA and Royal Jordanian. It has a further 18 E- Jets under management.

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