Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, has announced the concurrent delivery and sale of a new ATR 72-600 aircraft to an airline in the Caribbean region. This aircraft is the second sale of a series of two aircraft originally announced in May 2024. The profitable sale of this aircraft releases around US$5 million in net cash proceeds.
Following this sale Avation has ten aircraft on order from ATR for delivery between the fourth quarter of 2025 and second quarter of 2028 and purchase rights to acquire up to 24 additional new ATR 72-600 aircraft.
Jeff Chatfield, Executive Chairman of Avation PLC, said: “The Company is pleased to have closed another profitable sale transaction, illustrating the continued strength in the market for ATR turboprop aircraft and the value in Avation’s orderbook and purchase rights. Avation is primarily an aircraft lessor but agreed to sell this aircraft due to opportunistic timing and attractive transaction economics. The net proceeds may be used by the company to continue to deleverage.”
