16th Feb 2016 08:50
LONDON (Alliance News) - Aircraft leasing company Avation PLC said on Tuesday it was expanding its fleet, purchasing five new ATR72-600 aircraft and acquiring options for a further ten new aircraft.
Avation said the aircraft are scheduled to be delivered by ATR in 2017 and 2018, with the ten options positions in subsequent years. After the delivery of the five aircraft, which Avation purchased for USD130.0 million, Avation will have a fleet of 35 ATR 72s.
The ATR 72 is a twin-engine turboprop short-haul regional airliner manufactured by the French-Italian aircraft manufacturer ATR.
"Avation believes that a multi-year view on delivery positions allows the company to be well placed to serve existing and new airline clients. A forward order book of new aircraft also provides shareholders with the comfort of a consistent growth profile in Avation's aircraft portfolio. The company has options and delivery positions extending to 2023," said Executive Chairman Jeff Chatfield.
Avation shares were up 0.7% at 140.00 pence on Tuesday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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