TrueNoord had added two Embraer E195 aircraft on lease to Portugália to its fleet. Both aircraft, MSN19000407 and MSN19000429, were purchased with leases attached from Brazilian operator Azul. The project was financed by TrueNoord’s revolving warehouse facility underwritten by Citibank, Société Générale and Royal Bank of Canada. Legal counsel for TrueNoord on the acquisition was CMS, with Milbank advising on the financing. With this acquisition, TrueNoord completes another significant milestone and reaches a fleet of 50 modern regional aircraft. Garry Topp, Sales Director for TrueNoord responsible for the Americas, said, “This was a complex transaction carried out during the COVID-19
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