Singapore-based lessor Avation increases to 35 its fleet of ATR 72s

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ATR and Avation announce 5 additional ATR 72-600s

The world’s leading turboprop manufacturer ATR and the Singapore-based commercial aircraft lessor Avation PLC announced an agreement for the purchase of five new ATR 72-600 aircraft. At list prices the acquisition is valued at about US $130 million and brings to 35 the total number of firm ATR 72s ordered by Avation PLC since their first ATR purchase in 2011.

As of today, Avation has already taken delivery of over 20 ATR 72s, mostly ATR 72-600s, which currently fly in the liveries of Virgin Australia, Flybe (for Scandinavian Airlines), UNI Air (Taiwan), Air India and Fiji Airways. Deliveries of the remaining ATR 72-600s on order extend out to 2018.

ATR aircraft are the best-selling regional aircraft for below-90-seats size since 2010, representing 77% of global orders for turboprops. ATR is also experiencing an outstanding success among leasing firms in the same period, booking 87% of all their orders for below-90-seat regional aircraft. Avation is the second largest lessor by number of new ATRs ordered.

According to Jeff Chatfield, Avation’s Executive Chairman, “We believe the ATR 72 is the most efficient aircraft type for regional routes. It provides the lowest fuel burn and the most reduced operating costs among all regional aircraft of its category. ATRs are superb assets for lessors, they offer great returns and also allow portfolio diversification. Avation raises equity and debt with the London and New York markets and we are proud to promote the ATR in these essential forums”.

Patrick de Castelbajac, Chief Executive Officer of ATR, announced: “We are pleased to strengthen our business relations with Avation. This company has helped introduce the new ATR ‘-600s’ to a large number of world class airlines operating in regional networks. Our partnership has enabled us to bring our portfolio of operators to over 200 carriers for the first time. Our success among leasing firms from all over the world underlines our product’s ability to consolidate and expand regional connectivity in very different operational environments”.

Singapore, February 16, 2016

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