Alliance Air to connect challenging airfields of the Himalayas with two brand new ATR 42-600

The 50-seaters will be leased via TrueNoord who confirms confidence in long-term value of ATR products

Singapore Airshow, February 15, 2022 – Market-leading aircraft manufacturer ATR and Alliance Air, the only Indian public airline, have signed a deal to acquire two ATR 42-600 via lessor TrueNoord. These new aircraft will support Alliance Air’s mission of serving challenging airfields in the Himalayas. The first deliveries to Alliance Air will start mid 2022.

The former regional subsidiary of Air India, which already operates 18 ATR 72-600, has chosen to complement its fleet with brand new ATR 42s as their unique credentials, both in terms of versatility and economics, make it the perfect aircraft to serve even the least accessible regions of India. The aircraft will be able to operate on the short runways of the Shimla and Kullu airports, both located at high altitudes, and exposed to high temperatures.

Vineet Sood, Chief Executive Officer of Alliance Air, said: “Our relationship with ATR started 20 years ago, and ever since we have been building a network that truly serves Indian communities, delivering comfortable, reliable and affordable air services. Thanks to the unique features of the ATR 42-600, Alliance Air will proudly fulfill the mission assigned by the Indian government to make the most inaccessible regions accessible.”

The high commonality between the ATR 72 and 42 will help make the introduction of this new aircraft type seamless. The airline will also continue to benefit from the manufacturer’s pay-by-the-hour maintenance programme, the ATR GMA, to optimise its operations and maintenance activities.

ATR CEO Stefano Bortoli said: “Renewed confidence from a historical customer is the best recognition of the efforts we are making every day to remain at the higher edge of technology whilst providing concrete solutions to operate the aircraft with the most sustainable business model. The fact that we will deliver the aircraft by the middle of this year is testament both to the recovery of the Indian domestic market and the essential need for affordable and reliable connectivity throughout the country.”

In 2021, 40 new routes were created in India with ATR aircraft.

Carst Lindeboom, Sales Director Asia Pacific at TrueNoord, added: “We are proud to be a strategic partner in enabling vital and essential connections to be made throughout India. With this new acquisition, we are firmly establishing the whole ATR family as a cornerstone of our portfolio of modern regional aircraft, and demonstrating our confidence in their long-term value.”

These are the third and fourth ATR 42 aircraft that TrueNoord is introducing into its fleet, as in December 2021, the lessor bought two ATR 42-600 to support Silver Airways’ development in the United States.

About Alliance Air

Alliance Air is wholly owned by the Government of India through AI Asset Holding Ltd., and is run as an independent Strategic Business Unit. It has an existing fleet of 18 ATR 72-600 and is in process of expanding its fleet by inducting two more ATR 42-600 to cater to airports with landing restrictions. Alliance Air operates 125+ flights/day to 50+ destinations within India with focus on connecting Tier II & III cities.

Alliance Air is the front runner in promoting the “Regional Connectivity Scheme” (RCS) of the Government of India, the very objective of which is to make air travel affordable and widespread, to boost the national economy.

About TrueNoord

TrueNoord is a fast-growing regional aircraft leasing company with offices in Amsterdam, Dublin, London, and Singapore. It is a full-service platform providing leasing and lease management services supported by extensive knowledge of aircraft finance to operators and investors worldwide in the regional aircraft sector. TrueNoord exclusively invests in latest technology turboprops and regional jet aircraft, with a deep understanding of the critical role of regional aircraft in linking remote locations to larger urban areas, providing a feeder service to major hubs, and fulfilling carriers’ lower demand off-peak services in a growing global market.

TrueNoord is supported by cornerstone investors Freshstream, BlackRock, Aberdeen Standard and others. TrueNoord’s’fleet of new and young in-production aircraft covers different models in the 50-150 seat class, including ATR, Airbus, Embraer, MHI-RJ, and De Havilland Canada. See www.truenoord.com.

About ATR

ATR is the world number one regional aircraft manufacturer with its ATR 42 and 72 aircraft the best-selling aircraft in the less than 90-seat market segment. In 2019 the company had a turnover of US$1.6 billion. The unifying vision of the company’s 1,400 employees is to help everyone, no matter where they are in the world, to connect and develop in a responsible manner. Thanks to the efficiency of turboprop technology and the benefits of the company’s focus on continuous innovation, ATR aircraft open more than 100 new routes every year, burn up to 40% less fuel and emit up to 40% less CO2 than regional jets. For all of these reasons, ATR aircraft have been chosen by some 200 companies in 100 countries around the world. ATR is a joint-venture between Airbus and Leonardo.