Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, has announced today that it has signed a lease agreement with a new airline customer in the Pacific region. The lease is for an ATR 72-600 aircraft that was repossessed in August 2022, following the default of an airline in Myanmar. The aircraft is due to be delivered to the new customer for a lease term of 24 months. This transition reduces the number of off-lease aircraft in Avation’s fleet from three to two.
Avation’s Executive Chairman, Jeff Chatfield said: “We are pleased to place this aircraft on lease to a new customer. Delivery will occur in the next few weeks. The management remains confident of placing or selling the two remaining unutilised aircraft before 30 June 2023.”
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.
