Leasing firm Avation PLC firms order for 5 additional ATR 72-600s
The commercial passenger aircraft leasing company Avation PLC (LSE: AVAP) and the European regional turboprop aircraft manufacturer ATR are pleased to announce the agreement for the purchase of five additional ATR 72-600s. The aircraft purchase, which involves the exercise of five options, is valued at some US$ 120 million, based on catalogue prices. Deliveries of these five firm aircraft will take place in 2015.
It is intended that these five aircraft will be delivered to new and existing leasing customers of Singapore-based Avation PLC. The company is seeing strong continued demand for this aircraft type, which was important in its decision to exercise the purchase options.
Including this new order for aircraft, Avation PLC today has fourteen firm ATR72-600 aircraft to be delivered before the end-2015. As of today, thirteen ATR 72 aircraft have already been delivered on lease. In addition, Avation now has a total of 27 further options remaining to purchase additional aircraft under the agreement.
Commenting, Jeff Chatfield, Executive Chairman of Avation PLC said: "This order for five additional ATR72-600 aircraft is an important growth program for the Company allowing suitable expansion. This order is a demonstration of our commitment to grow the Company’s portfolio with the most modern, efficient and environmentally friendly aircraft available.”
Filippo Bagnato, Chief Executive Officer of ATR, declared: “We are pleased that Avation PLC is booking orders for new ATR aircraft for the third consecutive year. This is for us the major proof of their confidence on the multiple advantages of the ATRs for the development of their regional aviation business, both in Australia and in South East Asia”. He added: “This order clearly consolidates the strong importance of leasing firms also in the market of short-haul and thin operations. Since 2010, leasing firms represent not only an increasing part of our portfolio of customers and backlog, but also a very dynamic, valuable and flexible solution for regional operators all over the world”.
About the ATR 72-600:
- Passenger capacity: 68 to 74 seats
- Engines: Pratt & Whitney 127M
- Maximum takeoff power: 2,750 horsepower per engine
- Maximum takeoff weight: 23,000 kg
- Maximum load: 7,500 kg
- Maximum flight range when fully loaded: 900 nautical miles (1,665 km)
About Avation PLC:
Avation PLC is a Singapore based regional aircraft lessor. Avation Plc is listed on the London Stock Exchange (LSE: AVAP). Information can be found 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. The unifying vision of the company’s 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 140 new routes every year on average, burn 45% less fuel and emit 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.