AeroCentury Corp. Announces Portfolio Updates
February 04 2020 - 5:00PM
AeroCentury Corp. (NYSE American: ACY) (the “Company”), an
independent aircraft leasing company, announced three recent sales
of turboprop aircraft, consummated in furtherance of its ongoing
objective of refreshing its portfolio by lowering the average age
of its portfolio and reducing its exposure to older aircraft.
In December 2019, the Company sold a Dash 8-300
(MSN 236) that had been on lease to Widerøe’s Flyveselskap in
Norway for 15 years. Widerøe is the largest regional operator
serving the Nordic region, utilizing over 40 Dash 8 aircraft.
In January 2020, the Company sold a Saab
340BPlus aircraft (MSN 454) that was delivered to Transportes
Aéreos Guatemaltecos S.A. (TAG Airlines) in Guatemala, which the
airline will use to expand its Saab fleet serving the local
region.
Also, in January 2020, the Company sold a Fokker
50 aircraft (MSN 20202) to its lessee, Skyward Express Limited,
based in Nairobi, Kenya. Skyward is a longtime Fokker
50 operator, serving both scheduled and chartered passenger
operations.
In years past, the Saab 340 and Fokker 50
aircraft types were the predominant aircraft types in the Company’s
portfolio. The Company has had a long association with both
aircraft types, which arguably constituted the Company’s most
successful programs, having given the company access to customers
throughout North America, South America, Europe and Asia
Pacific. The recently sold Saab and Fokker aircraft were the
last of their respective types in the Company’s portfolio.
The Company’s portfolio currently consists of 20
aircraft, comprising Embraer ERJ-145/175 and Bombardier
CRJ-700/900/1000 regional jets as well as De Havilland Q400/Q300
turboprop aircraft.
About AeroCentury: AeroCentury
is an independent global aircraft operating lessor and finance
company specializing in leasing regional jet and turboprop aircraft
and related engines. The Company's aircraft and engines are leased
to regional airlines and commercial users worldwide.
Hal LyonsChief Financial Officer(650)
340-1888
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