Dubai, November 19, 2019 – De Havilland Aircraft of Canada Limited (“De Havilland Canada”) and ACIA Aero Capital Limited (“ACIA”) announced today -- during the Dubai Airshow -- that ACIA has signed a conditional purchase agreement to acquire three Dash 8-400 aircraft. The parties are working to finalize the agreement in the coming months.
“The Dash 8-400 aircraft is a core part of ACIA’s long term strategy as it seeks to grow and diversify its fleet of 50 turboprop and regional jet aircraft,” said Brett Hurst, Group Managing Director of ACIA Aero Capital. “The Dash 8-400 is an aircraft type we have wanted to invest in for a long time now, and represents a significant opportunity for ACIA. In particular, the versatility of the aircraft -- with passenger capacity up to 90 seats -- offers real opportunities to meet varied lessees’ operational environments and requirements. In addition, the residual values of the Dash 8 family of aircraft have proved to be very strong and dependable -- making this an ideal investment for our portfolio.”
“ACIA sees significant opportunities in various mature and growth markets where the Dash 8-400 aircraft is the perfect aircraft in many respects. In addition to the three covered under this purchase agreement, we plan to add several more Dash 8-400 aircraft in the coming years to further diversify our current portfolio," said Mick Mooney, newly appointed Chief Executive Officer of subsidiary ACIA Aero Leasing. “We expect the Dash 8-400 aircraft program to thrive under the management of De Havilland Canada and ACIA looks forward to being a part of that success.”
“ACIA’s purchase agreement with De Havilland Canada is another example of the value the leasing community sees in the Dash 8-400 aircraft’s ability to satisfy a wide variety of operational requirements,” said Todd Young, Chief Operating Officer, De Havilland Canada. “With a dispatch reliability rate of over 99.5% and industry-leading passenger experience, operating costs and environmental footprint, the Dash 8-400 aircraft is the pinnacle of the modern turboprop -- making this an ideal investment platform for lessors with a long term view on asset values.
“As the most successful Dash 8 Series aircraft, the Dash 8-400 has logged almost seven million flight hours with over 60 owners and operators in almost 40 countries, and it has transported more than 400 million passengers,” added Mr. Young.
ACIA plans to open a regional office in Canada by January 2020 to boost its presence in North America and grow its portfolio.