Singaporean lessor “Avation” has gotten its chequebook out, with them signing for further ATR Aircraft.
The lessor has signed a firm order for 10 ATR 72-600 with Avation PLC. The agreement is further complemented by 24 purchase rights, extending until 2034.
Deliveries for the 10 aircraft are scheduled between 2025 and 2028,
This order marks another milestone in the enduring relationship with Avation which began in 2011. Since then, the Singapore-based lessor has taken delivery of 36 new ATR 72s, with two more scheduled for delivery in the coming months, as part of a previous order.
Avation currently owns a fleet of 20 ATRs.
In Quotes
Jeff Chatfield, Executive Chairman of Avation PLC, said:
“Over the years, we have witnessed the exceptional performance of ATR aircraft, and enjoyed both strong airline demand and secondary market value retention. Avation believes that over the next 10 years, low CO2, SAF compatible, latest technology aircraft such as the ATR 72, and potentially its EVO successor, will be an essential component for efficient travel worldwide. We also believe that establishing a ten-year programme for the supply of new regional aircraft with sensible economics is a key component of our long-term business strategy. ATR 72s with their low operating costs and class-leading low carbon credentials are an essential addition to almost all major airlines’ regional networks.”
Nathalie Tarnaud Laude, Chief Executive Officer of ATR, commented:
“The continued trust from a longstanding customer is the best recognition of our efforts to remain relevant over the years, through continuous innovation. This agreement not only reinforces our collaboration with Avation, it also reflects the strong market demand for ATR aircraft. We are proud to contribute to the success and growth of Avation’s portfolio, while fulfilling our vision of accelerating sustainable connections by ensuring communities worldwide get a quick, responsible and reliable access to essential services.”
Growth of Avation
Lessors provide an important option for those in the aircraft market, either in terms of providing extra capacity or converting capitals costs into operational costs (at a very high level).
Avation has a mixture of Boeing 7777-300ER, Airbus A332-300, Airbus A321-200, Airbus A220-300 ATR 72-600 and ATR72-500 in its fleet, with the ATR fleet being the largest currently.
With the need for low-cost regional connectivity still being important to a lot of airlines, ATR continues to have an important place in the Turboprop market. with a top range of 825 nmi (1,528 km), making it perfect for those shorter regional missions that don’t require a larger aircraft or range.
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