TrueNoord leases three Embraer E190s to Finnair

posted on 14th November 2019 by Eddie Saunders
TrueNoord leases three Embraer E190s to Finnair

TrueNoord, the specialist regional aircraft lessor, has leased three Embraer E190s to Finnair. These aircraft have been purchased with leases attached from GOAL Aircraft Leasing and they are being sub-leased and operated by Nordic Regional Airlines.

Financing was provided under TrueNoord’s term loan warehouse facility supported by Morgan Stanley, NORD/LB Norddeutsche Landesbank, Barclays and ABSA Bank. Hogan Lovells advised TrueNoord on the transaction and Dentons supported GOAL.

“These E190s are our first aircraft with Norra, the preferred partner of Finnair, and they bring our E-jet fleet to 28 aircraft of which 20 aircraft are Embraer E190s.The past six months have been exciting times for TrueNoord as we concentrate on our long term strategy and continue to expand our strong portfolio of young regional aircraft with a good global spread and leased to experienced, market leading operators.” Commented Anne-Bart Tieleman, CEO – TrueNoord,

“As a specialist lessor, we are committed to the provision of dependable, modern aircraft that enable regional airlines to provide reliable services and aid passenger connectivity – we are very pleased to build our presence with such a renowned Nordic operator.”

Michael Adams, TrueNoord’s Sales Director Europe, commented: “We are delighted to welcome Finnair/Norra into the TrueNoord family of lessees and look forward to building our relationship and supporting Finnair/Norra’s future fleet development plans.”

Norra operates a significant part of Finnair’s domestic and European traffic with over 50,000 flights yearly. The company’s modern and young fleet includes 24 aircraft.  Twelve ATR turboprops for shorter journeys and smaller regional airports in the Nordic region, and twelve Embraer E190 jets, suited for slightly longer distances across European skies.