Hong Kong, June 25 -- When Patrick de Castlejabac joins the Ireland-headquartered Nordic Aviation Capital (NAC) as CEO on July 1, he will be immediately tested by his management of company's decision to seek a "possible debt standstill and deferral" of loan commitments to "counteract the negative impact COVID-19" has had on its business.
To support NAC, rated as the world's largest lessor of regional aircraft, several long-term shareholders have agreed to inject US$60 million of new equity into the company to support it through the pandemic.
"In light of these discussions with lenders, the company today [June 5] applied to the High Court in Dublin for launching a scheme of arrangement under the Irish Companies ACT", a NAC statement said....