NAC posts 21% revenue increase in half-year results

victoria@aviationnews-online.com
By victoria@aviationnews-online.com September 3, 2019 08:38

NAC posts 21% revenue increase in half-year results

Nordic Aviation Capital (NAC) has posted total revenue of $890 million, an increase of 21% in its latest financial results for the year ending 30 June 2019.

The group’s lease revenue rose by 17% to $748 million as the firm generated cash flow from operations of $540 million and made investments of $1 billion.

During the period, the group increased its fleet by 43 aircraft to 480 and total assets by 6% to $8.2 billion.

An injection of $150 million in additional equity from shareholders was seen in the period to support growth and strengthen its balance sheet.

Meanwhile, NAC raised a total of $3.1 billion, of which $1.4 billion was unsecured and increased its unsecured debt to 46% of total debt.

Søren M. Overgaard, NAC CEO, said: “This year’s financial results demonstrate another record year for NAC. We successfully delivered on our strategic initiatives, which is a testament to and a reflection of the hardworking, dedicated, and passionate team at NAC without whom the successful year we delivered would not have been possible.”

victoria@aviationnews-online.com
By victoria@aviationnews-online.com September 3, 2019 08:38