29th Jun 2015 07:53
LONDON (Alliance News) - Commercial passenger aircraft leasing company Avation PLC on Monday said it has signed a lease to supply another ATR72-500 plane to budget carrier Flybe Group PLC.
The aircraft will be delivered towards the end of 2015 and is the fifth aircraft Avation has leased to Flybe.
No specific financial details were revealed but Avation said the lease had been signed on typical terms and for six years, with an option to be extended by another six years.
"We are pleased to announce this contract for the lease of a fifth aircraft to Flybe, which further strengthens our partnership. We look forward to initiating the delivery stream to Flybe, which is scheduled to commence in September 2015," said Avation Executive Chairman Jeff Chatfield.
"The company is also evaluating the potential acquisition of a number of existing aircraft, which are currently on lease to a variety of other airlines," Chatfield added.
Shares in Avation were down 3.7% to 143.00 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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