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Avation delivers first of three ATR 72-600 planes to Mandarin Airlines

The other two planes will be delivered before the end of the year
Mandarin airlines plane
Mandarin – a subsidiary of Taiwan’s flag carrier, China Airlines – will lease the planes for eight years

Aircraft leasing group Avation PLC (LON:AVAP) has delivered a new ATR 72-600 plane to Mandarin Airlines.

It is the first such delivery made to Mandarin, a subsidiary of Taiwan’s flag carrier, China Airlines.

READ: Avation takes out options on more aircraft

As part of a deal initially agreed back in July, two other ATR 72-600s will be delivered to Mandarin before the end of the year.

The leases are for eight years and are priced at “market rates”, Avation said.

READ: Avation hires new vice president of marketing

“This is a milestone for the company as it is the 30th new ATR 72 that the company has taken delivery of. We are satisfied with the financial returns provided by the ATR 72 aircraft type,” said executive chairman Jeff Chatfield.

“Globally the ATR 72-600 is the most popular regional turboprop aircraft and provides our airline customers with the most cost effective and environmentally friendly solution for regional airlines.”

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Avation said its 2018 performance showed growth consistent with an increase in fleet assets and record high monthly lease rental collections

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