airBaltic Completes Financing for Bombardier Q400 NextGen Aircraft
Published: 17:53 02.12.2010.
December 2, 2010
The following is a press release from airBaltic:
Riga. Yesterday the Latvian national airline airBaltic finalised financing for all of its Bombardier Q400 NextGen aircraft, and will receive the remaining 5 of the total 8 ordered aircraft in the coming weeks.
Bertolt Flick, President and CEO of airBaltic: “Completing financing for the Bombardier Q400 NextGen aircraft was a large transaction. These new, fuel-efficient, and state-of-the-art aircraft will allow airBaltic to maintain low unit costs. This is important in an environment, where fuel costs are growing and customers in our markets are becoming increasingly price-sensitive.”
The 8 Bombardier Q400 NextGen aircraft have been purchased by Nordic Aviation Capital AS (NAC) and will be leased to airBaltic. The value of the aircraft at list prices is 212 million USD.
Three of the aircraft purchased by NAC had been previously owned by airBaltic (value at list prices 79,5 million USD).
NAC is the largest provider of turboprop aircraft leasing in the world. The company provides aircraft to well-known carriers such as Lufthansa, American Airlines, US Airways, SAS, Flybe, TACA and other major regional carriers. Nordic Aviation Capital’s current fleet of over 130 aircraft includes, ATR 42, ATR 72, Bombardier Dash 8, Boeing 737, MD 83, CRJ 200, Fokker 50 and Saab 2000 aircraft.
LETA