Olympic Air Parent and NAC Ink 14-Aircraft Lease Deal
Danish lessor Nordic Aviation Capital (NAC) has closed a sale-and-leaseback agreement with Olympic Air’s (OA) parent company, covering 10 Bombardier Dash 8 Q400’s and four Dash 8-100 aircraft.
Under the deal, OA owner Marfin Investment Group (MIG) has sold its MIG Aviation UK and MIG Aviation 3 subsidiaries to NAC. These subsidiary companies owned the 14 aircraft, marking the disposal of MIG’s Bombardier fleet.
NAC has placed the aircraft back with OA on operating lease. The 10 Q400s are on an 11-year contract and the four Dash 8-100s have a five-year term.
With this latest transaction, NAC’s Dash 8 portfolio has grown to 53 aircraft, of which 34 are Q400 models. NAC has nearly 200 aircraft on lease to 30 operators worldwide.