12th Feb 2020 12:50
(Alliance News) - Avation PLC said Wednesday it has converted purchase rights for two aircraft into firm orders for two ATR 72-600 aircraft.
The commercial aircraft leasing company said it will lease the aircraft to Bangladeshi airline US-Bangla and will support the expansion of the airline's turboprop fleet by increasing the number of ATR aircraft from six to eight.
Also, Avation said it has further acquired two additional ATR 72-600 purchase rights to replace those that were exercised.
Jeff Chatfield, executive chair of Avation, said: "The economics of the ATR 72-600, its wide customer base and proven environmental credentials make it an extremely attractive asset for both lessors and airlines operating in all types of environments."
"We are glad to foster our partnership with US-Bangla and see them expand their regional footprint and develop connectivity in Bangladesh," Chatfield said.
Avation shares were trading 1.1% higher in London at 324.00 pence each on Wednesday.
By Loreta Juodagalvyte; [email protected]
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