Specialist regional aircraft lessor TrueNoord , has delivered the second of two new Dash 8-400 aircraft which it has placed on long term operating lease agreements with Philippine Airlines (PAL).
These aircraft (MSN 4610/4612) are the first Dash 8-400 aircraft manufactured by De Havilland Aircraft of Canada Limited to enter service in TrueNoord’s portfolio.
TrueNoord is currently broadening its options within the turboprop segment of its fleet and these Dash 8-400s join the lessor’s expanding fleet comprising 47 aircraft in total including: ATR, Embraer and Bombardier aircraft.
“The Dash 8-400 aircraft enter PAL’s commercial service at a time when the airline is seeing burgeoning demand for affordable flights” says Carst Lindeboom, Sales Director Asia Pacific for TrueNoord. “Its short take-off and landing capabilities support efficient regional operations, so it is the perfect choice for Philippine Airlines to service their domestic and cross-border route network and meet increasing passenger demand for regional connectivity.
Lindeboom heads up TrueNoord’s expanding Singapore office and said the firm had benefitted from the rapid growth of regional flight capability across the region which includes recently placed its third ATR72-600 with US-Bangla in Bangladesh and he said the lessor was in discussions with several other carriers in the Asia Pacific region.
Both De Havilland Canada Dash 8-400 aircraft have been financed within TrueNoord’s $360 million revolving warehouse facility which is underwritten by Citibank, Société Générale and Royal Bank of Canada. Pillsbury Winthrop Shaw Pittman advised TrueNoord and Norton Rose represented Philippine Airlines on the transaction.
TrueNoord delivers second Dash 8-400 to Philippine Airlines
