Aircraft Lease Announcement
Avation PLC has announced the commencement of a new eight-year lease and delivery of an ATR 72-600 aircraft to ETF Airways, a Croatian airline. This new lease enhances Avation's contracted revenue and diversifies its airline customer base. The company highlights the importance of modern, fuel-efficient aircraft like the ATR 72-600 for regional air travel, which is often driven by essential services less sensitive to fuel price fluctuations.
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Avation PLC (LSE: AVAP) ("Avation" or "the Company"), the commercial passenger aircraft leasing company, is pleased to announce the commencement of a new lease and delivery of an ATR 72-600 aircraft (MSN 1387) to a new client, ETF Airways, a Croatian airline.
Jeff Chatfield, Executive Chairman of Avation PLC, said: "We are pleased to have completed the transition of this aircraft onto a new long-term, eight-year lease with ETF Airways, enhancing Avation's contracted revenue and airline customer diversification. In these turbulent times, we believe that modern, low-fuel-burn aircraft such as the ATR 72-600 are essential for regional air travel. Regional operations are often driven by essential services - including medical, governmental, and community transport - rather than discretionary leisure travel, which tends to be more sensitive to fluctuations in jet fuel prices."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.