August 30, 2018
Nordic Aviation Capital (NAC) has entered into an agreement with BeauTech Power Systems, LLC (BeauTech) for the purchase of 25 Embraer E190 aircraft which BeauTech has arranged to purchase from Air Canada. The 25 aircraft have short lease back periods with Air Canada over the forthcoming 18 months. This transaction, which is expected to close by the end of August 2018, serves to further establish NAC’s position as one of the largest lessors in the regional jet and turboprop sector. With the downstream acquisition of certain of the aircraft following their lease return, this deal also strengthens BeauTech’s position as a premier regional jet engine lessor, with one of the largest portfolios of CF34 lease engines in the global market.
“We are investing heavily in growing the business through strategic acquisitions such as this one with Air Canada. NAC’s investment in this attractive portfolio of assets underlines our confidence in the long-term growth prospects of the regional jet market. This market is a burgeoning one, and we are delighted to have partnered with BeauTech in this joint venture” said Martin Moller, Chairman, NAC.
“BeauTech is pleased to partner with NAC on this acquisition. By applying the synergies between our two companies we are able to optimize the disposition of these assets and provide continued support to both the aftermarket and the secondary in-service lease markets” said Lee Beaumont, CEO, BeauTech.
About BeauTech Power Systems
BeauTech Power Systems leases regional and narrowbody commercial aircraft engines to airlines, OEMs and Maintenance Repair and Overhaul (MRO) service providers worldwide. Based in Dallas, Texas, BeauTech specializes in CF34 and CFM56 engines and its lease portfolio includes all CF34 engine model variants operated on the CRJ and E-Jet platforms. BeauTech was founded in 2011 with the focus to support airline customers with the best engine lease practices in the industry. As part of its focus in this market, BeauTech is also active in the trading of regional and narrowbody aircraft and engines.
About Nordic Aviation Capital
NAC is the industry’s leading regional aircraft lessor serving over 70 airline customers in 48 countries. The company provides aircraft to well-established carriers such as British Airways, Air Canada, LOT, Azul, Lufthansa, Garuda, Flybe, Aeroméxico and airBaltic as well as major regional carriers including Air Nostrum and Widerøe. NAC’s current fleet of almost 500 aircraft includes E170, E175, E190, E195, ATR 42, ATR 72, Bombardier Dash 8, CRJ900, CRJ1000 and CS300. In addition, the group has circa 50 aircraft on firm order. NAC is the largest owner and lessor of both ATR and Bombardier aircraft in the world.
For additional information, please visit us at www.beautech.aero
Phone: +1 214 764 8364