TrueNoord signs LoIs for six aircraft | News | Airfinance Journal

TrueNoord signs LoIs for six aircraft

TrueNoord has signed a letter of intent (LoI) to place six aircraft with lessees, according the Dutch regional lessor’s chief executive Anne-Bart Tieleman.

“At the moment our portfolio on balance sheet is 22 aircraft, we’re in final stage for another six. The LOIs are signed, it’s now just the execution of the transactions,” he tells Airfinance Journal, adding that he hopes to close the transactions by the fourth quarter of the year.

TrueNoord is also looking to acquire more regional aircraft.

"We are in negotiations with several airlines on sale lease back transactions for new aircraft models but also used regional aircraft like Bombardier Q400s, Embraer E190s, E195s, E175s and ATRs," says Tieleman..

He says that hitherto, the lessor has focused on acquiring aircraft by purchasing portfolios from other lessors with leases attached, but TrueNoord is now looking to increase its focus on closing more sale and leaseback transactions to establish “more direct contact with our potential market”.

On 12 July, the lessor closed a $500 million financing facility to refinance part of its existing portfolio of Embraer, Bombardier and ATR aircraft. Tieleman says that half of the facility will be used to finance the portfolio and half will be used as a warehouse for future business development and fleet expansion.

Transaction SnapshotTrueNoord | A/c purchase and lease novation | 06-17 | 6xE190

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