ATR and Avation confirm order for eight ATR 72-600
Toulouse, 3 January, 2019 – Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company, and ATR confirm Avation has entered into an options exercise to acquire a further eight new ATR 72-600 aircraft for scheduled deliveries between 2020 and 2022.
Jeff Chatfield, Executive Chairman, commented: “This order for eight additional aircraft extends Avation’s order book and firm delivery horizon and continues the business growth in regional turboprops out to 2022. In addition to this order, the company has maintained its purchase rights and price protection over a further 25 aircraft extending to December 2025. We equally confirm our willingness to potentially convert some of our orders and or options to the freighter version which we foresee to have a positive outlook. We believe that the market for the ATR 72-600 will continue to be strong as the aircraft is the most fuel-efficient aircraft in its class and dominates sales in its market segment. Avation is satisfactorily positioned as one of a few Lessors with a modest number of forward positions to offer to our airline customers.”
Stefano Bortoli, CEO of ATR, added: “Avation is a very forward looking leasing company and their decision to firm up further options for more ATR 72-600 is a clear confirmation of where regional aviation is going. We are honoured by the confidence of Avation and look forward to further reinforce our partnership in the years to come.”
Regional connectivity supports local economies, with a 10% increase in flights generating a 5% rise in tourism, an increase of 6% in local GDP and 8% more Foreign Direct Investment. With a fuel burn advantage of 80% compared to regional jets, ATR -600 series aircraft represent the most efficient way of supplying these essential links.
Avation PLC (AVAP: LSE) is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to international airlines across the globe.
More information on Avation is available at: www.avation.net
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 45% less fuel and emit up to 45% 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.