News and press

Garuda made the decision to directly acquire six CRJ-1000 aircraft from Bombardier all of which Garuda has operated since 2012. These aircraft were selected by Garuda prior to any engagement with NAC. Subsequently, Garuda selected NAC to provide a further twelve CRJ-1000 aircraft under a lease agreement which ends in 2027.

For the avoidance of doubt, NAC is not party to any investigation into the selection of the aircraft by Garuda in 2012, and there has been no allegation of any wrongdoing on the part of NAC in relation to the placement of the aircraft.

Last year, in light of the global pandemic and Garuda’s difficult trading environment, NAC had extensive discussions with the airline to help their cash position during the crisis.

NAC has continued these discussions but there has been no agreement to date, and no termination notice has been received. The lease agreements thus remain in full force and effect, and NAC expects Garuda to continue to honour its contractual commitments.

While NAC is sympathetic to the commercial difficulties of Garuda, it is confident of its position and absolutely determined to protect its commercial interest.

About Nordic Aviation Capital

NAC is the industry’s leading regional aircraft lessor serving approximately 75 airline customers in over 50 countries. NAC’s current fleet of almost 500 aircraft includes ATR 42, ATR 72, De Havilland Dash 8, Mitsubishi CRJ900/1000, Airbus A220 and Embraer E-Jet family aircraft.

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

Contact Details: NAC, Sandra Leahy +35361432469 sal@nac.dk / Powerscourt, Eavan Gannon +353872365973 NAC@powerscourt-group.com