Avation PLC OPTIONS EXERCISE FOR ATR AIRCRAFT (0953M)
January 03 2019 - 2:30AM
UK Regulatory
TIDMAVAP
RNS Number : 0953M
Avation PLC
03 January 2019
AVATION PLC
("AVAP" or "the Company")
OPTIONS EXERCISE FOR ATR AIRCRAFT
Avation PLC (AVAP: LSE), the commercial passenger aircraft
leasing company, announces that it has entered into an aircraft
options exercise with ATR to acquire a further eight new ATR 72-600
aircraft for scheduled deliveries between 2020 and 2022.
Jeff Chatfield, Executive Chairman, commented: "This order for
eight additional aircraft extends Avation's order book and firm
delivery horizon and continues the business growth in regional
turboprops out to 2022. In addition to this order, the company has
maintained its purchase rights and price protection over a further
25 aircraft extending to December 2025. We equally confirm our
willingness to potentially convert some of our orders and or
options to the freighter version which we foresee to have a
positive outlook. We believe that the market for the ATR 72-600
will continue to be strong as the aircraft is the most
fuel-efficient aircraft in its class and dominates sales in its
market segment. Avation is satisfactorily positioned as one of a
few Lessors with a modest number of forward positions to offer to
our airline customers."
Stefano Bortoli, CEO of ATR, added: "Avation is a very forward
looking leasing company and their decision to firm up further
options for more ATR 72-600s is a clear confirmation of where
regional aviation is going. We are honoured by the confidence of
Avation and look forward to further reinforce our partnership in
the years to come."
-ENDS-
More information on Avation can be seen at: www.avation.net
Enquiries:
Avation PLC - Jeff Chatfield Executive Chairman +65 6252
2077
Notes to Editors:
Avation PLC (AVAP: LSE) is an aircraft leasing company,
headquartered in Singapore, owning and managing a fleet of
commercial passenger aircraft which it leases to international
airlines across the globe.
More information on Avation is available at www.avation.net.
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END
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