The arrival of HGI Capital Group as new shareholder will enable the Brazilian carrier to continue its development with ATRs, which have become the reference for regional air transportation across the country.

European manufacturer of turboprop aircraft ATR and the leasing firm HGI Aircraft Division, -Air division of HGI Capital Group-, today signed a contract for the sale of 20 ATR 72-600s that will be introduced in the fleet of the Brazilian carrier Passaredo Linhas Aéreas. Of these, 10 are firm sales while 10 are options, for a total sum of US$ 482 million. HGI Capital Group also becomes shareholder of Passaredo following the approval of ANAC, Brazil’s National Agency for Civil Aviation. The contract has been signed on the occasion of the Paris Airshow, and was witnessed by Mrs. Nicole Bricq, French Minister for Foreign Trade.

This latest sale confirms ATR’s remarkable success with Brazilian regional airlines. Over the past three years, ATR has received firm orders for over 60 ATR 72-600s for Brazilian airlines. Brazil is currently experiencing significant development of its regional air transport networks and airport infrastructures in small and medium-sized towns. Since 2005, ATR has almost quadrupled the number of its aircraft on the Brazilian market, where currently almost 80 are operating in the colors of five different airlines. Over a hundred ATR aircraft will be operating in Brazil in 2015.

While signing the contract at the Paris Air Show, Juan Alcaraz, Chief Executive Officer of HGI Capital Group, said: “We are delighted to initiate our aircraft investments in association with Passaredo and ATR following the authorization of ANAC. We are convinced that the development of regional air transport in Brazil offers excellent business prospects for our newly created HGI Aircraft Division.” And he added: “Our investment in Passaredo will strengthen the airline in a highly competitive sector, allowing them to consolidate their presence and further increase their market share.”

Luiz Felicio, Chief Executive Officer of Passaredo Linhas Aéreas, said: “The ATR 72-600 is clearly the aircraft best suited to meet our operational requirements. The aircraft’s performance on all of our routes of less than 600 kilometers is unbeatable, allowing us to make very significant fuel-savings while offering a high quality service to our passengers.”  And he added: “And all of this with the added bonus of having the lowest environmental impact of any aircraft of its capacity.”

Fillippo Bagnato, Chief Executive Officer of ATR, emphasized ATR’s strong growth, not only in Brazil, but throughout Latin America, where more than 160 ATR aircraft are currently operating: “The ATR 72-600 has become the top-selling regional aircraft on the vast Latin American market. We are very pleased to be able to support the growth of airlines and regional traffic using aircraft that combine the highest standards in passenger comfort with the lowest operating costs.”

ATR press release