Nordic Aviation Capital (NAC), the Danish turboprop lessor, has signed a $200m revolving credit facility with Denmark’s Kirk Aviation. The deal is NAC’s third investment transaction with Kirk Aviation, and builds on a previously existing relationship between the two organisations. The two companies jointly invested in 39 ATR72 aircraft that were leased to American Airlines in 2008.

Martin Møller, NAC’s chairman, says the facility will be used to build a joint portfolio of mainly regional aircraft.

“We are seeing that many airlines remain cautious when it comes to renewing existing fleet types and they are holding on to a fleet type. The situation is good for us.” says Møller.

The move is another indication of NAC’s growth potential. Recently Møller said: “We have increased the portfolio to over 130 aircraft and our mainstay ATR, Fokker 50, Saab, ATR and Dash 8 fleet now includes several Boeing 737s and Bombardier CRJs.  NAC has also concluded a number of lease renewals in the past few months - at longer renewal terms than anticipated.”

NAC, based in Billund, Denmark marks its 20th birthday in 2010. The company provides aircraft to well known carriers such as Lufthansa, American Eagle/American Airlines, US Airways, SAS, Flybe, Olympic Airways, TACA and Air France affiliates; major regional carriers including Wideroe, Aer Arann and Cimber Air, as well as providing aircraft to airlines in emerging markets.

AIG shareprice jumps after International Lease Finance Unit repays government loan

In other air finance news shares of American International Group (AIG) are up 43 cents, or 1.2%, at $35.60, after it was reported over the weekend that the company’s International Lease Finance unit, which leases airplanes, repaid a $3.9bn government loan ahead of schedule with the proceeds from a $4.4bn bond sale made on Friday. The unit expects to be self-funding without assistance from AIG.