Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, has advised that further to the announcement made on 1 March 2024, it has now completed this 15 March 2024 the sale of one ATR 72-600 aircraft with MSN 1039 to an Asian airline.
Avation completes sale of one ATR 72-600 aircraft to an Asian airline
- Written by: Amilia Stone
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Avation has signed an eight-year lease agreement with a European ACMI provider for an eight-year-old ATR 72-600 aircraft, set to transition in February 2026.
Avation Plc reported FY2025 revenue of $110.1m, up 19.2%, and EBITDA of $107.1m. The company posted a $7.7m loss after tax, reduced net indebtedness to $604.2m, and declared a 1.0 US cent dividend.
Avation has finalised the sale of a Boeing B777-300ER leased to Philippine Airlines, generating a material profit above book value. The transaction releases significant cash, which will be used to reduce debt and reinvest in narrowbody aircraft types as part of the company’s portfolio management strategy.
Avation expects revenue of around US$110 million for the year to 30 June 2025. The company has reduced outstanding bond debt to US$298 million through repurchases and improved its credit ratings with Moody’s and Fitch.
Avation has agreed a twelve-year lease with a Cambodian carrier for a new ATR 72-600, the second of ten aircraft ordered in 2024. Delivery is scheduled for February 2026.
Avation confirmed that one of ten ATR 72-600 aircraft ordered in 2024 will be delivered in November 2025, becoming the first aircraft in SUM Air’s fleet.
