Nordic Aviation Capital

NAC was founded October 15, 1990, in Denmark. For the first 25 years, the business focused on turboprops.

From 2015 to 2020, it doubled its fleet principally by expanding into regional jets. During January 2020, the Company moved to a new headquarters in Ireland and its fleet value peaked at about $7 billion, with over 500 aircraft owned, managed, and committed. At this point, NAC was by far the world’s largest regional aircraft lessor.

Due to the pandemic crisis, lack of adequate equity and various portfolio issues, NAC underwent a major financial restructuring commencing in late 2021, including a chapter 11 filing.[3] A new senior management team, ownership group and Board of Directors were then established.[4][5][3]

The Company emerged successfully during June 2022 with a much-improved balance sheet and financial position including over $500 million of liquidity and growth capital. The fleet at exit was over 370 aircraft owned, managed and on order with assets of over $3 billion and significantly reduced debt.[1]

The Company intends to remain a global leader in regional aircraft leasing and is currently the only lessor with both orders for new ATR turboprops and Airbus A220 cross-over jets. NAC also plans to expand into larger narrowbody aircraft such as new/used 737 and A320 family members. The new Executive Leadership Team has substantial aircraft leasing experience in addition to airline, OEM and lessor trading relationships in this much larger, adjacent space. The Company believes it can significantly scale the fleet by leveraging the existing NAC global asset management platform. NAC will also emphasize a full life cycle approach to its aircraft portfolio going forward, facilitated by the new team having significant experience in mature and leased aircraft trading, spare engines and cargo conversions.[1]

NAC is owned by a diversified group of institutional investors including leading insurance companies, asset managers and other financial institutions.

As of December 31, 2022 the Nordic Aviation Capital fleet consists of the following aircraft:[1]

The Company is reducing its mature aircraft assets like E1s and Q400s and adding to its ATR/ A320/737 family fleet. Out of the 315 owned aircraft, NAC has committed/awarded sales of 19 aircraft, largely E1s and Q400s.

NAC announces 2022 financials, inaugural ESG report and new website

NAC appoints John Higgins and Yadin Rozov as Board Observers

NAC signs Carbon Offset Service agreement with Pratt & Whitney Canada

NAC signs MOU with GE Aerospace to explore carbon offset program for NAC’s aircraft leasing operations

Nordic Aviation Capital launches NAC Women in Aviation Scholarship Funds with Cranfield University and Embry-Riddle Aeronautical University (Asia)

Embraer and NAC Sign a Firm Order for Up to 10 New Embraer P2F Conversions

Nordic Aviation Capital Closes $400m Warehouse Facility

• Official website