Amsterdam/London/Dublin – 14 June 2017: TrueNoord, the regional aircraft lessor, today announces that funds managed by BlackRock, a leading global asset management firm, will be co-investing in its portfolio of leased aircraft assets alongside Bregal Freshstream who invested in the company in 2016.

This significant and forward-looking agreement will enable TrueNoord to intensify the pace of its acquisition strategy in the regional aircraft sector. Furthermore, it will facilitate the escalation of financing solutions that TrueNoord can provide for airlines seeking specialist regional programmes and growth.

The regional aviation sector represents a substantial portion of the global aviation industry with approximately 50% of all passenger travel accounted for by journeys under 300 nautical miles. This is particularly the case in parts of Asia and Latin America where growing populations and infrastructure challenges are driving demand for local air travel. TrueNoord’s recent acquisition of six Embraer E190’s from BOC Aviation with leases attached is indicative of this global dynamic with aircraft being operated by AeroMexico, TUI (Jetairfly) Belgium and Air Astana.

Chief Executive Officer, Anne-Bart Tieleman comments: “The regional aviation sector is a highly specialised subsector of the wider aircraft leasing industry and we have built a strong presence within it. With the backing of Bregal Freshstream and our new investor, BlackRock, we are poised to accelerate the momentum that we have generated to date as we look to expand into key growth markets such as South East Asia and Latin America where the demand for regional aircraft is booming.”

“Aircraft leasing continues to grow in both size and importance” says Tieleman. “In the regional sector we expect to see the continuance of recent trends that have characterised the commercial jet area as a whole, including industry consolidation, rapid portfolio turnover, and the use of innovative structures enabling capital market funds to provide a source of equity. We also anticipate that lessors will continue to trade aircraft briskly, allowing new lessors like TrueNoord to grow our fleet.”