Nordic Aviation Capital (NAC) has formed its NAC Materials unit which will focus on sourcing, leasing and trading of larger ticket airframe and engine components for ATR turboprop aircraft. The components include propellers, avionics and landing gear.
NAC is currently the largest owner of ATR aircraft in the world and has new orders with the manufacturer. In addition, NAC Materials will manage and optimise NAC’s remaining CF34 engine inventory as the firm phases out its E190/195 leased fleet.
"NAC Materials will help minimise lease transition cash costs for us, support our customer base and provide ancillary leasing income and trading gains," said NAC EVP-fleet operations Brian Power. "We’ve done internal inventory management for many years. Since 2022, we have externally traded out many key components and opportunistically built up a leased/green time engine book with an aggregate value of about $80 million. Our current staff, supplier/warehouse network and quality control/IT systems can readily support the effort."
NAC has appointed Olivia Grimes as group VP of NAC Materials. Grimes was formerly with Lufthansa Technik for 19 years, overseeing materials and facilities. She will report to NAC SVP engine operations Simon Dine.