Avation PLC firms order for 5 additional ATR 72-600s

Commercial passenger aircraft leasing company Avation PLC and European regional turboprop aircraft manufacturer ATR signed an agreement for the purchase of five additional ATR 72-600s. The aircraft purchase, which involves the exercise of five options, is valued at some $120m, 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.