July 13, 2024

NovoAir Offers Five ATR72 Aircraft for Immediate Sale

NovoAir, based in Dhaka, Bangladesh, has put up its entire fleet of five ATR72-500 aircraft for sale through Airstream International Group, highlighting ongoing fleet adjustments and strategic partnerships in aviation.


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NovoAir, based in Dhaka, Bangladesh, has decided to sell off its entire fleet of five ATR72-500 aircraft. This strategic move is facilitated by Airstream International Group, a UK-based aircraft remarketer and lessor specializing in aircraft transactions.

The ATR72-500s being offered for sale by NovoAir were manufactured between 1999 and 2002. These turboprop aircraft, identified by their registrations S2-AJL, S2-AHQ, S2-AJK, S2-AJM, and S2-AHF, are now available for immediate purchase through Airstream International Group.

Airstream International Group expressed satisfaction in its ongoing partnership with NovoAir, citing recent successful transactions. Notably, they facilitated the sale of two ATR72-500s to Yeti Airlines and managed the acquisition of NovoAir’s ATR turboprops sourced from Air New Zealand and BQB Líneas Aéreas.

The decision to sell the ATR72-500s marks a significant shift in NovoAir’s fleet strategy. CEO Mofizur Rahman previously indicated the airline’s expectation to receive two Airbus A321-200s, signaling a transition towards newer and potentially larger aircraft models.

NovoAir’s current operations include daily flights connecting Dhaka with major domestic destinations such as Cox’s Bazar, Saidpur, Chittagong, Jessore, Sylhet, Rajshahi, and Kolkata. The sale of its ATR72-500s underscores the airline’s focus on optimizing its fleet composition to meet evolving market demands.

For Airstream International Group, managing the remarketing of NovoAir’s ATR72-500s adds to its track record of facilitating aircraft transactions across international markets. This includes previous deals involving regional aircraft like the Embraer E145 series, which were also successfully transitioned to new operators.

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The sale of NovoAir’s five ATR72-500s reflects broader trends in the global aviation market, where airlines regularly adjust their fleets to optimize operational costs and meet changing passenger demands. By divesting these older turboprop aircraft, NovoAir positions itself strategically to potentially introduce more fuel-efficient and technologically advanced models in the future.

As NovoAir seeks to streamline its operations and possibly expand its fleet with more modern aircraft, the sale of the ATR72-500s represents a strategic initiative to align resources and enhance operational efficiency in Bangladesh’s competitive aviation sector.

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