TrueNoord Accelerates Growth with Acquisition of Seven ATR 72-600 Aircraft in Europe – Travel And Tour World

TrueNoord, a leading regional aircraft leasing specialist, has successfully acquired seven ATR 72-600 aircraft from the German asset management firm, GOAL Aircraft Leasing, acting on behalf of KGAL. This strategic acquisition boosts TrueNoord’s fleet to over 100 aircraft and adds three new European lessee airlines to its portfolio, further solidifying its presence across the continent.

The full integration of these aircraft was completed last week. The seven ATR 72-600s are currently leased to European airlines, with four operating under Air Serbia, two with Emerald Airlines in Ireland, and one with the Greek carrier Olympic Air. The milestone 100th aircraft for TrueNoord, MSN 1159, is now in service with Air Serbia.

Nigel Turner, Chairman of TrueNoord, points out that the successful upwards trajectory of the business has been a team effort from day one. “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.”

Ahmed Ali, Sales Director at TrueNoord, expressed his enthusiasm about the transaction. “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.”

Andreas Schneider, Director of Sales & Marketing at GOAL, commented, “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.”

Anne-Bart Tieleman, founder and CEO of TrueNoord, comments, “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.”

As the lessor sees growth accelerating at an ever-faster pace, Tieleman acknowledges the TrueNoord team. “The bigger you get, the bigger the deals you can do” he observes. “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,” concludes Tieleman. “We have the full confidence of our financiers and cornerstone investors who are energising our portfolio growth with the latest-technology aircraft.”