TrueNoord has today announced the purchase of a portfolio of seven ATR 72-600 turboprop aircraft from GOAL, marking the aircraft lessor’s 100th aircraft acquisition.
On Monday (December 2, 2024), TrueNoord announced the purchase of seven ATR 72-600s from the German asset manager GOAL Aircraft Leasing, acting on behalf of KGAL. This marks TrueNoord’s milestone 100th aircraft acquisition, and brings three new European lessee airlines into the company’s portfolio.
In Monday’s announcement, TrueNoord’s CEO, Anne-Bart Tieleman, said,
“This is our fourth major portfolio transaction in the last two years. Now, with 100 aircraft in our fleet, we’re on the fast-track to achieving significant global presence. Our focus is on building and sustaining a fleet of latest technology aircraft that enhance our lessees’ operations, delivering fuel economy and dispatch reliability. We are very pleased that our OEM partners – Embraer, ATR, de Havilland Canada, and Airbus – share this vision. We cooperate closely to grow and develop the turboprop, large regional jet and small narrowbody sector for the benefit of all operating within it and the communities we collectively serve.
“The bigger you get, the bigger the deals you can do. But you need the infrastructure to manage this effectively, and right-minded people who understand the business ethos and want to develop with you. Our team is expanding, we now have 37 people across our three office locations in Amsterdam, Dublin and Singapore and that number is set to rise as our plans for North America gather pace. These are exciting times for TrueNoord, and I am grateful for the enthusiasm of our team who are shaping our journey with their diligence, passion and fresh ideas.
“We are experiencing high demand and are always seeking new acquisition opportunities. We have the full confidence of our financiers and cornerstone investors who are energising our portfolio growth with the latest-technology aircraft.”
Also commenting on their fleet expansion, TrueNoord’s Chairman, Nigel Turner, said,
“As a lessor we set out to support the regional aviation market and work in partnership with those airlines that service this sector. In order to pursue growth, we have steadily developed our highly experienced team and established a global presence in Europe, Asia, Africa, and the Americas. We are proud of the support we receive from our stable group of equity investors, Freshstream, BlackRock, abrdn / PATRIA, and the wider international banking community. Their confidence in our business model has enabled TrueNoord not only to build a trusted reputation within the leasing community, but also to advance at a measured pace which is synonymous with our core values.
“Notwithstanding our approach so far, now we have secured our first 100 aircraft we intend to ‘turn up the volume’ and accelerate growth even faster. With aircraft values increasing and a strong underlying demand for the aircraft we own, scale will allow us to drive profitability and push towards our goal of becoming one of the world’s largest regional aircraft lessors.”
Further commenting on the acquisition of the seven ATR 72-600s, TrueNoord’s Sales Director, Ahmed Ali, said,
“It has been a pleasure working with GOAL on this deal. Their professionalism and cooperation have made this process smooth and efficient. We are very pleased to have added these ATR72-600 aircraft to our portfolio and further expand our lessee base in Europe. We look forward to building strong, long-term relationships with our new lessees and contributing to their continued success.”
GOAL’s Director of Sales & Marketing, Andreas Schneider, added,
“Facilitating this transaction with TrueNoord exemplifies our commitment to delivering high-value, sustainable aviation investments for KGAL’s funds. Our exclusive role as asset manager for KGAL’s aviation portfolio enables us to create attractive returns for investors while supporting airline fleet development across Europe.”
TrueNoord is a rapidly growing regional aircraft leasing company with offices in Amsterdam, Dublin, London and Singapore. The lessor invests heavily in the latest technology turboprops and regional jet aircraft. TrueNoord is supported by cornerstone investors including Freshstream, BlackRock, abrdn / PATRIA, and others. TrueNoord’s fleet of new and in-production aircraft include models in the 50-150 seat class from manufacturers including ATR, Airbus, Embraer, and De Havilland Canada.
Source: TrueNoord