Exercise Of Atr Purchase Rights
Avation PLC has converted five of its 24 purchase rights into firm orders for ATR 72-600 Aircraft, with deliveries scheduled for 2028 and 2029, increasing its undelivered order book to 14 firm aircraft. The company anticipates that aircraft shortages will persist, enhancing the value of lessor order books, and expects the equity investment for these new aircraft to be fully funded from organic cash flows.
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Avation PLC (LSE: AVAP, Avation or "the Company"), the commercial passenger aircraft leasing company announces that it has converted five of its 24 purchase rights into firm orders for ATR 72-600 Aircraft under its long-term purchase contract with ATR. The delivery of these additional firm aircraft is scheduled for 2028 and 2029.
Jeff Chatfield, Executive Chairman of Avation PLC, said: "The Company believes that aircraft shortages are likely to persist for some time, which will enhance the value of lessor order books over the medium term. By exercising these purchase rights for additional new aircraft, the Company is strengthening its growth trajectory for 2028 and beyond. This latest commitment increases the undelivered ATR 72-600 order book to 14 firm aircraft. The equity investment required for these aircraft is expected to be fully funded from organic cash flows."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.