ATR signs LOI for 3 ATR 42-600s with China’s Xuzhou Hantong

Le Bourget, June 19, 2017 – ATR, the world's leading manufacturer of turboprop aircraft, and Xuzhou Hantong Aviation Development Co., LTD (Hantong) have signed a Letter of Intent (LoI) to purchase three ATR 42-600s to develop commuter services in the province of Jiangsu, China. The first deliveries are expected to start as soon as possible in 2018.
 
China has strong potential for the development of air connectivity as there is an increasing demand for enhanced aviation services from, to and within regional markets. These routes are relatively short with less demand and fewer passengers than main trunk routes connecting larger cities. Regional aircraft represent only 2.3% of the total fleet of nearly 3,000 civil aircraft flying in China. In addition, there is also strong potential to develop air services to some 100 small airports that, as of today, account for only 1.6% of the whole traffic in China.
 
Mr. Zhou Bingzhen, General Manager of Hantong said, "Under Xuzhou local government’s strategy to develop Xuzhou as a new cargo and regional aviation hub, Hantong is to focus on regional cargo and commuter services under general aviation, as there is a huge gap in both areas. We are pleased to partner with ATR, the world's leading regional aircraft manufacturer, and select ATR 42-600 to kick-off our strategic cooperation between the two companies. Meanwhile, Hantong is happy to have Reignwood Aviation, the renowned and experienced general aviation player in China, become the operation partner to jointly develop commuter services in eastern China.”
 
Christian Scherer, ATR’s Chief Executive Officer, declared: “The Chinese government is very much encouraging General Aviation, recognising the positive impact it can have on the country’s transportation system, making it just as important as commercial aviation. Our ATR 42-600, configured with 30 seats, is the ideal solution for the General Aviation market in China. ATRs are the most sustainable way to increase traffic, develop local economies and then profitably prepare for larger scale operations. We are proud to have Hantong as well as Reignwood commit in this market sector. It’s our strong belief that the cooperation will be a big success”.
 
About Xuzhou Hantong Aviation Development Co. Ltd
Xuzhou Hantong Aviation Development Co. Ltd. was established in August 2016 by Xuzhou municipal government in the aim to develop Xuzhou as the civil aviation hub in Huaihai Economy Zone.  This state-owned company is covering comprehensive business in civil aviation, including airlines operation, MRO, training, technology development, consultant and etc.  
 
About Reignwood Aviation
Reignwood Aviation Group, is named as the leading service provider and operator in the field of General Aviation in China. Its business covers operation, MRO, aircraft leasing, FBO management and etc. Reignwood Aviation has four general aviation companies, operating a fleet of about 50 aircraft, including business jets, amphibious aircraft, commuter aircraft and helicopters. Reignwood aviation is also the dealer of Twin-otter aircraft and Bell helicopter in China.

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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.