Nordic Aviation Capital (“NAC”), the world’s largest turboprop lessor, is expanding its expertise in Asia with the formal opening of an office in Singapore. NAC in Asia will initially be concentrating activity in Indonesia, Malaysia, Philippines, Vietnam, Cambodia, Laos and Thailand – where an increasing number of 50 to 70-seat turboprop aircraft are entering service.

“ATR especially has new aircraft deliveries coming in over the next few years and a long backlog of orders,” said NAC vice president sales and acquisitions, Mats Ericson. “It has established customer bases in India and Malaysia from its regional head office in Singapore, including a training centre at Malaysia’s Subang Airport. NAC can complement these activities by providing secondhand aircraft from our portfolio relatively quickly. We will also be warming up potential operators for all new aircraft down the line and leasing new aircraft as well.”

He adds: “South East Asia is a strong growth market and there is a lot of demand for ATR, Bombardier and other turboprop aircraft. We hope to be doing more with Bombardier now that we have a stronger presence in this region. NAC will continue its expansion in SE Asia from the new Singapore office and we already have a number of new deals for regional aircraft pending for deliveries from August to October,” said Ericson.

“Regardless of whether aircraft are older or newer, turboprop demand remains strong because of their cost effectiveness, flexibility and reliability. The aircraft are also environmentally friendly. Turboprop aircraft are now serving a diverse variety of missions – originally used by regional airlines, demand is now also coming from carriers providing capacity for oil and gas projects, corporate shuttles, cargo operations and most recently, VIP conversions. As a result, demand remains high for good quality turboprop aircraft and prices are holding up well as demand remains relatively strong and supply continues to be limited.”