Avation PLC completes sale of two ATR aircraft

Avation PLC (Aviation), a commercial passenger aircraft leasing company, has announced the sale of two ATR 72-600 aircraft to Danish Air Transport (DAT).

The two aircraft, acquired by Avation in 2018, were originally leased to DAT under agreements that included purchase options. DAT has now exercised these options, and the sales of both aircraft have been successfully completed. The transaction was carried out at book value and has generated net cash proceeds of approximately US$10 million after the repayment of associated bank loans.

Jeff Chatfield, Avation's Executive Chairman, commented, “We are pleased to have successfully concluded these aircraft sales to our longstanding customer, DAT. The Company's strategy is to maintain a balanced portfolio of regional and modern commercial narrowbody aircraft, and exiting these two ATR aircraft aligns with that strategy.”

This sale supports Avation's ongoing efforts to optimise its aircraft portfolio, focusing on the ownership of newer, more efficient aircraft while maintaining strong relationships with key customers like DAT.