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.
About ACIA Aero Capital
ACIA Aero Capital is a diversified aviation group that includes regional aircraft leasing, aircraft Large Cargo Door (LCD) conversions, technics and parts businesses with operations in Ireland, France and Mauritius. It was established in 2002 and since then its portfolio has grown to over 50 regional aircraft. ACIA offers flexible leasing solutions to a wide variety of aircraft operators globally. The group’s diverse wider group operations strategically position ACIA within the regional turboprop market with a unique ability to manage each of the life-cycle stages of the aircraft from new delivery aircraft, operations, aircraft transitions, P2F conversions and leasing, teardown and parts sales. For additional information, please visit http://aciaaero.com/
About De Havilland Aircraft of Canada Limited
With more than 5,000 aircraft delivered, De Havilland Aircraft of Canada Limited (De Havilland Canada) is well established across the globe and our talented team of aviation professionals is dedicated to advancing our near-100-year reputation for excellence in innovation, production, and customer support. Our aircraft operate reliably in some of the world’s harshest climates and provide vital connections between rural communities and urban centres – transporting essential cargo and millions of passengers annually. Our aircraft also support a wide variety of special mission operations including aerial firefighting, search and rescue, medical evacuation, reconnaissance, and coastal surveillance. Visit: www.dehavilland.com
De Havilland Canada is a trademark of De Havilland Aircraft of Canada Limited.
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De Havilland Canada
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