New lessor Abelo firms up on orders for 20 ATR turboprops at Farnborough Air Show

Newly formed Dublin, Ireland-based lessor Abelo has signed Heads of Agreement with ATR for ten brand-new ATR 72-600s. First deliveries of the ATR 72-600 are due to start in 2023. In addition, Abelo also confirmed a previous order for ten brand-new ATR 42-600Ss turboprop aircraft, this model being the Short Take-off and Landing, or STOL, variant. The order for the ATR 42-600Ss was originally placed by Elix Aviation back in 2019. However, in June this year new, fully fledged lessor Abelo was formed through the merger of Elix Aviation together with its 65-strong turboprop portfolio with ADARE Aviation Capital. Abelo is owned by funds managed by Oaktree Capital Management, L.P. (“Oaktree”), which initiated the merger to enable further investment in the regional turboprop sector.

ATR has issued a new market forecast in which it predicts strong demand, worldwide, for turboprop aircraft over the next 20 years.  Steve Gorman, Chief Executive Officer of Abelo, said: “We firmly believe that turboprops are the technology of today and tomorrow and this is why we are investing in the ATR platform. This new deal is further proof of our commitment to create growth and value for regional operators, providing them with the most modern, profitable and sustainable aircraft on the market.”

Stefano Bortoli, ATR Chief Executive Officer, commented: “Abelo is a perfect partner for ATR and a force to be reckoned with in the regional aviation market. With today's order for 20 aircraft, they demonstrate their long-term confidence in our product family and shine a light on the many opportunities that exist for operators across the globe.”