Air Lease Corporation (NYSE: AL) said it has sold 25 ATR aircraft in its fleet to Nordic Aviation Capital A/S.
These ATR aircraft have met the demand from airline customers operating shorter sector lengths. As the business has matured, ALC has focused more on its mainline jet aircraft operations with these turboprop aircraft now accounting for less than five percent of the current fleet.
NAC specializes in meeting the needs of ATR turboprop operators and this transaction adds further scale to their business. ALC anticipates that a majority of aircraft transfers will occur during the first half of 2016.
ALC is an aircraft leasing company based in Los Angeles, California that has airline customers throughout the world.