Aircraft Transition And New Customer
Avation PLC has secured long-term leases for two ATR 72-600 aircraft with a new customer, Finnair, with six-year leases commencing in July and September 2026. These aircraft are transitioning from a previous lessee due to debt restructuring. The company also signed a 24-month lease letter of intent for an ATR72 engine with another new airline client, indicating a positive trend in the regional aircraft market and demand for ATR72-600s and related engine services.
Select text to share a quote on X · sign in to keep highlights & notes in your AVAP notes
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."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.