AIRCRAFT TRANSITION AND NEW CUSTOMER
Summary by AI BETAClose X
Via RNS and SGXNET
AVATION PLC
AIRCRAFT TRANSITION AND NEW CUSTOMER
Avation PLC (LSE: AVAP, Avation or "the Company"), the commercial passenger aircraft leasing company, is pleased to announce that it has entered into long‑term leases for two ATR 72‑600 aircraft with a new customer, Finnair. The aircraft, which are owned by Avation, will be placed on six-year leases scheduled for commencement in July 2026 and September 2026 respectively, following their transition from a previous lessee as part of that airline's debt restructuring.
Jeff Chatfield, Executive Chairman of Avation PLC, said: "We are delighted to have signed two new six‑year leases with Finnair, the flag-carrier of Finland and one of the world's most established airlines. Finnair is also a key member of the oneworld alliance, and we regard this transaction as an important step in broadening Avation's customer base with a high‑quality European carrier."
Mr Chatfield went further to say: "In general the Company believes that there is a noticeable uptick in the regional aircraft market and second hand ATR72-600 demand. Furthermore, the Company has also signed a 24-month lease letter of intent for one ATR72 engine with a new airline client, demonstrating the depth of demand in this additional segment."
-ENDS-
Enquiries:
Avation PLC - Jeff Chatfield, Executive Chairman
Tel: +65 6252 2077
Avation welcomes shareholder questions and comments and advises the email address for questions is: investor@avation.net and the Company provides an investor Q & A during the conference call associated with release of results. The head office telephone number is +65 6252 2077
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 9 hours ago Johnson Matthey
- 11 hours ago Galliford Try
- 11 hours ago Galliford Try
- 11 hours ago Centrica
- 11 hours ago Smith & Nephew