NAC reports net income of $72 million in its first full year post-restructuring

Nordic Aviation Capital (NAC) has reported a net income of $72 million in its first full year since its chapter 11 restructuring. Its total liquidity by the end of the year was at $856 million and its total assets at $3.8bn. It ended the year with a net debt of $1.85bn and book equity at $736 million. ""NAC delivered robust full-year results for 2023,"" said NAC CFO & EVP Jennifer Creevey. ""The company reported a strong net income for the period and maintains a solid liquidity position going into 2024."" The company owned 270 aircraft at year-end and sold 60 aircraft, which were primarily E1s and Q400s. It also acquired 13 narrowbody aircraft and two spare engines. ""2023 was an excellent year in terms of financial results, reshaping the portfolio, and delivering on the capability of NAC’s world class platform,"" said NAC CEO and president Norman Liu. ""I look forward to continued progress in 2024 as we continue to execute our strategy and maximise shareholder value."" NAC ended the year with purchase commitments for 36 new technology aircraft.