India’s Star Air Plans To Lease Embraer E-175s
Indian start-up Star Air plans to lease two Embraer E175 aircraft, a new type from its fleet of Embraer ERJ-145s, for operation by November this year. Star Air says in a statement it has signed a letter of intent (LOI)…
Former Nordic Aviation Capital Executives Take Over Management of Elix Aviation
Three senior executives formerly from regional aircraft lessor Nordic Aviation Capital (NAC) have taken over management control of rival aircraft lessor Elix Aviation, and rebranded the business Abelo. The three ex-NAC executives are Stephen Gorman, Michael Hayden and Mathieu Duquesnoy….
Nordic Aviation Capital Aims To Exit Bankruptcy In May After Restructuring
Aircraft lessor Nordic Aviation Capital (NAC) has received approvals from the US Bankruptcy Court on its restructuring plan, which will reduce its debt by US$4.1 billion, as it seeks to exit bankruptcy proceedings in May. NAC says in a statement…
National Airways Corporation Acquires South African Based Awesome Flight Logistics
Aircraft lessor and charter operator National Airways Corporation (NAC) has acquired 100% of the shares of South African based dry lessor Awesome Flight Logistics (AFL) and is looking to expand the business. NAC says in a statement, AFL was established…
Nordic Aviation Capital Writes Down Value Of Its Aircraft Portfolio By Nearly A Third
Nordic Aviation Capital (NAC), which is currently in Chapter 11 bankruptcy protection, has disclosed to the US Bankruptcy Court that it has written down the value of its aircraft portfolio by nearly a third, adding that this has caused the…
Nordic Aviation Capital Gets Temporary Financial Relief
US Bankruptcy Court has granted financially troubled Nordic Aviation Capital (NAC) approval to tap into US$170 million of debtor-in-possession (DIP) financing, allowing it to continue operations. The US Bankruptcy Court has issued an interim order to NAC, allowing the company…
