US-Bangla leases two more ATR 72-600s from TrueNoord

- A Monitor Report 15 Jan, 2020 | 782 Views|-+
Dhaka: Private airline US-Bangla has taken two more ATR 72-600s on long-term lease from the specialist regional aircraft lessor TrueNoord, announced the Bangladeshi carrier in a press statement today.

The aircraft have been financed by Citibank, Société Général and Royal Bank of Canada under TrueNoord’s new warehouse finance facility. Milbank, Tweed and Hadley and McCloy LLP represented TrueNoord and Clifford Chance advised the banks on the financing side of the transaction.

Mohammed Abdullah Al Mamun, Managing Director, US-Bangla Airlines said, “These new-vintage ATR72-600s are needed to meet the growing demand for domestic travel across our route network. We are very pleased to work with TrueNoord as a specialist lessor in the regional sector - their expertise with turboprop aircraft perfectly complements our business strategy.”

The airline already has four Boeing 737-800, three Dash-8 Q 400 and two ATR 72-600 aircraft, one of which had been provided by TrueNoord earlier.

Anne-Bart Tieleman, CEO, TrueNoord said, “We are delighted to further support US-Bangla’s fleet modernisation programme. Our recent deliveries to them form part of a growing footprint for TrueNoord across the Indian sub-Continent. We are currently working on a variety of transactions where the flexibility and operational route expansion opportunities provided by regional aircraft suit the growth ambitions of several airlines. These two turboprops increase our number to fourteen ATRs out of an aggregate fleet of 49 regional aircraft operating worldwide.”

Headquartered in Dhaka and flying to sixteen destinations, currently US-Bangla's network covers eight cities: Dhaka, Chattogram, Cox's Bazar, Jashore, Sylhet, Saidpur, Rajshahi and Barishal.

TrueNoord’s portfolio of turboprops is operating across India, Bangladesh and South East Asia improving connectivity and commerce. The company is seeing significant growth across all parts of Asia and as air travel becomes more affordable and the regional airport infrastructure expands, this increase is set to continue.

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