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: [email protected] 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.