News and press

Statement on behalf of Nordic Aviation Capital

Nordic Aviation Capital (NAC, The Company), the world’s largest regional aircraft leasing company, has noted media coverage of a commercial issue between NAC and PT Garuda Indonesia, a flag carrier airline.

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

Ireland

Gardens International,
Henry Street,
Limerick City,
Ireland
Tel: +353 61 432 400

Denmark

Stratusvej 12,
7190 Billund,
Denmark
Tel: +45 7651 1200

USA

550 Andrews Ave,
Suite 300,
Fort Lauderdale,
FL 33301,
USA
Tel: +1 954 763 4737

Singapore

20 Bendemeer Road 03-12,
339914,
Singapore
Tel: +65 6735 7014

Hong Kong

YF Life Tower,
Suite 8115,
33 Lockhart Road,
Wanchai,
Hong Kong (SAR), PRC

NAC is the global Leader in Regional Aircraft Leasing with over 200 employees operating across 5 locations globally.
The company provides aircraft leasing and lease management services to airlines and aircraft investors worldwide.