Nordic Aviation Capital Orders 12 Bombardier CRJ1000 NextGen Aircraft to be Leased to Garuda Indonesia

Bombardier Aerospace announced today that a wholly owned subsidiary of Nordic Aviation Capital A/S of Billund, Denmark has signed a firm purchase agreement for twelve CRJ1000 NextGen aircraft. Nordic Aviation Capital has confirmed that the aircraft will be leased to Garuda Indonesia, Bombardier’s previously announced launch customer for the CRJ1000 NextGen aircraft in the Asia-Pacific region. Nordic Aviation Capital is one of the world’s largest lessors of regional aircraft, with a portfolio of over 160 turboprop and jet aircraft serving more than 30 customers in 20 countries.

Based on the list price of the CRJ1000 NextGen aircraft, the firm order is valued at approximately $595 million US.

“Nordic Aviation Capital’s order, as well as recent transactions undertaken by other third party financiers to provide CRJ1000 NextGen aircraft to Air Nostrum of Spain, illustrate that these aircraft present attractive financing and leasing opportunities for airlines and investors,” said Mike Arcamone, President, Bombardier Commercial Aircraft.

Garuda’s twelve leased CRJ1000 NextGen aircraft, plus six firm-ordered directly from Bombardier in February 2012, will result in a fleet of 18 CRJ1000 NextGen aircraft. Should the airline also convert the 18 options placed with Bombardier, its fleet of CRJ1000 NextGen aircraft would increase to 36. Based at Soekarno-Hatta International Airport near Jakarta, Garuda Indonesia was established in January 1949. The airline currently operates a fleet of 92 commercial aircraft serving 31 domestic and 19 international destinations.

“Although it is a relatively new product, the Bombardier CRJ1000 NextGen aircraft is performing extremely well with its current operators, delivering exceptional reliability and the lowest seat-mile costs in its market segment,” said Martin Moller, Chairman, Nordic Aviation Capital. “We are therefore delighted to be acquiring these high-quality assets and assisting Garuda Indonesia in carrying out its business plan.”

“The CRJ1000 NextGen aircraft’s superior economics, outstanding fuel economy and excellent passenger comfort ideally meet our requirement for 100-seat aircraft; and the acquisition of these twelve additional aircraft via Nordic Aviation Capital is integral to our network expansion from five regional hubs,” said Emirsyah Satar, President and Chief Executive Officer, Garuda Indonesia.

“The significant market potential and outstanding value retention of the CRJ1000 NextGen aircraft, as well as the broad base of CRJ aircraft operators around the world, are all positive factors contributing to the interest from leasing companies,” said Mairead Lavery, Vice President, Strategy, Business Development and Structured Finance, Bombardier Aerospace. “We are pleased to see that leasing companies such as Nordic Aviation Capital have recognized the outstanding in-service performance and reliability of the CRJ1000 NextGen aircraft.”

Source: Bombadier Aerospace
Date: Jun 20, 2012