Via
RNS and SGXNET
AVATION PLC
("Avation" or "the
Company")
NEW AIRLINE
CUSTOMER
Avation PLC (LSE: AVAP), the
commercial passenger aircraft leasing company, notes that the
aircraft manufacturer, ATR, has made the following announcement at
the Farnborough Air Show:
*QUOTE*
AVATION PLACES NEW ATR 72-600
AT JAPAN'S JCAS AIRWAYS
First aircraft placed out of 10 from Avation PLC's recent
order, demonstrating dynamism of regional market and attractiveness
of ATR aircraft
Farnborough, 25 July 2024 - World's number one regional aircraft manufacturer ATR proudly
announces the signature of a Letter of Intent between Japanese
startup airline JCAS Airways and Singapore-based lessor Avation PLC
for the lease of an ATR 72-600. This milestone marks the commitment
of JCAS Airways to launch operations with ATR's new generation
turboprop. Delivery is scheduled for end 2025. The initial routes will connect Kansai to Toyama and
Yonago.
The agreement comes on the heels of
a recent order placed by Avation for 10 ATR 72-600 last May. The
placement of this first aircraft, well ahead of its delivery, is a
clear positive sign from the market, showcasing its dynamism and
the liquidity of the ATR as an asset.
With its exceptional fuel
efficiency, versatility, and ability to operate in challenging
environments, the ATR 72-600 is the perfect choice for expanding
domestic and regional connectivity in the Japanese market. It is
the go-to aircraft for Japanese operators looking to deliver a
superior and low-emission travel experience to their passengers, as
well as for lessors and investors aiming to build an attractive
portfolio with a high residual value.
Seiji Shirane, Chief Executive
Officer at JCAS Airways, stated:
"Today's achievement is a major milestone which takes us closer to
the launch of our operations, with highly experienced partners by
our side: leading lessor Avation and regional aircraft manufacturer
ATR. Japanese communities rely massively on regional air links for
everything from healthcare and trade to business and tourism, and
JCAS Airways will contribute to revitalising our country, boosting
its economy, making cultural experiences accessible, and
maintaining a vital lifeline for the islanders of
Japan."
Jeff Chatfield, Executive Chairman of Avation
PLC, commented: "We congratulate
JCAS Airways on their decision to select the ATR 72-600 as their
aircraft of choice to expand regional air travel throughout Japan,
and Avation PLC as their leasing partner. By investing in latest
generation, industry-leading low carbon footprint, SAF compatible
aircraft, such as the ATR 72, we are all investing in a more
sustainable future for aviation, contributing to reinforce much
needed connectivity between regions and communities."
"We are thrilled to witness
Avation's successful aircraft placement and welcome JCAS Airways in
the ATR family", said Alexis
Vidal, ATR's SVP Commercial. "This strategic partnership not
only strengthens ATR's presence in Japan, it also highlights the
dynamic nature of our market and the undeniable appeal of the ATR
72-600. Its unmatched performance, fuel efficiency and passenger
comfort make it the optimal choice for operators seeking to unlock
the full potential of regional connectivity. We will support JCAS
Airways in their journey to provide reliable and affordable air
transportation to passengers across the country."
Japan is a vast archipelago covering
378,000 sq km and nearly 7,000 forest and mountain-covered islands,
420 of which are inhabited. The regional connectivity provided by
the 20 ATRs today flying with five operators is vital to many, not
just for trade and commerce but also for access to essential
services such as healthcare and education.
ATR is committed to working closely
with Avation and JCAS throughout the aircraft delivery process and
beyond, providing comprehensive support and expertise to ensure a
successful launch of operations.
![](https://dw6uz0omxro53.cloudfront.net/3120719/ee7defc5-3ec4-4dde-b86e-8ab88cf9c3cb.gif)
![](https://dw6uz0omxro53.cloudfront.net/3120719/ee7defc5-3ec4-4dde-b86e-8ab88cf9c3cb.gif)
ABOUT JCAS AIRWAYS
JCAS Airways: Pioneering a New
Approach to Regional Aviation
JCAS Airways, a Japanese regional
airline, was established in June 2023. The company is currently led
by co-CEOs Seiji Shirane and Yuki Umemoto, along with a team of
professionals experienced in launching new ventures and operating
and maintaining airline services. The airline is gearing up to
commence operations, with Kansai International Airport (KIX) as its
hub. The initial routes will connect Kansai to Toyama (TOY) and
Yonago (YGJ). Unlike traditional regional airlines, JCAS Airways
aims to do more than merely connect different regions through air
travel. The company is dedicated to enhancing the appeal of the
area it serves by developing local attractions and providing unique
on-site experiences and contributing to regional revitalisation. In
its inaugural year, JCAS Airways plans to start with one aircraft
and two routes with an ambitious plan to expand its fleet to seven
aircraft and its network to 16 routes over the next five
years.
ABOUT AVATION PLC
Avation PLC is a commercial
passenger aircraft leasing company, headquartered in Singapore,
owning and managing a fleet of widebody, narrowbody jet and
turboprop aircraft which it leases to airlines across the world.
The Company's customers include 16 commercial airlines in 14
countries. Avation's fleet of aircraft is currently fully leased
and utilised. The Company is listed on the London Stock Exchange
with ticker AVAP.L more information on Avation is available at
www.avation.net.
ABOUT ATR
ATR is the world number one regional
aircraft manufacturer with its ATR 42 and 72, the best-selling
aircraft in the below 90-seat market segment. The unifying vision
of the company is to accelerate sustainable connections for people,
communities and businesses, no matter how remote. Flown by some 200
airlines in over 100 countries, ATR aircraft opened 160 new routes
in 2023, facilitating the development of territories and enabling
access to crucial services like healthcare and education. Thanks to
ATR's focus on continuous innovation and the intrinsic efficiency
of the turboprop technology, ATR aircraft are the most advanced,
versatile, cost-effective and lowest-emission regional aircraft on
the market, emitting 45% less CO2 than similar-size regional jets.
In January 2022, we flew the first ever commercial aircraft using
100% SAF in both engines. ATR is a joint-venture between Airbus and
Leonardo. Visit us on www.atr-aircraft.com
for more information.
MEDIA RELATIONS
Charlotte GIURIA
Luca ACCINNI
+33 (0)6 80 48 20
96
+33 (0)6 23 36 67 35
charlotte.giuria
@atr-aircraft.com
luca.accinni@atr-aircraft.com
*END QUOTE*
-ENDS-
Enquiries:
Avation PLC - Jeff Chatfield,
Executive
Chairman
+65 6252 2077
Avation welcomes shareholder
questions and comments and advises the email address is:
investor@avation.net
Notes to Editors:
Avation PLC is an aircraft leasing
company, headquartered in Singapore, owning and managing a fleet of
commercial passenger aircraft which it leases to airlines around
the world. More information on Avation is available at
www.avation.net.