26th Feb 2020 12:04
(Alliance News) - Avation PLC on Wednesday said it has leased its first engine to a commercial airline operator.
Avation, which also leases commercial aircraft, signed its first engine lease agreement with Transportes Aeromar SA de CV, which operates Mexican carrier Aeromar Airlines.
Executive Chair Jeff Chatfield said: "Engine leasing is a new business initiative which we are exploring. We and also our airline clients occasionally lease engines when needed, we see this is a valued added business line which certain airline clients may find useful."
Aviation will lease Aeromar a PW127M engine, manufactured by US aerospace firm Pratt & Whitney.
Aviation shares were 2.9% lower at 272.00 pence each in London on Wednesday.
By Eric Cunha; [email protected]
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