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Avation inks long-term lease agreements with airBaltic for two new Bombardier CS300s

The two single-aisle jets will be delivered to airBaltic straight from the Bombardier factory
airbaltic plane
This is what the two new aircraft will look like

Avation PLC (LON:AVAP) is to lease out two new Bombardier CS300 planes to Latvian airline airBaltic.

The leases are both for 12 years and will be delivered to the airline straight from the factory.

READ: Avation signs 12-year operating lease with Taiwanese air transport group

Bombardier’s C Series the only new-technology single-aisle aircraft specifically designed to serve the 100-150 seat market, Avation said.

“The company is pleased to welcome airBaltic as an addition to the company's airline client base,” said executive chairman Jeff Chatfield.

“The company seeks long-term leases and these two 12-year leases align with our strategy. The company continues to diversify its aircraft portfolio and recognises the importance of new technology single-aisle aircraft such as the CS300.”

He added: “Avation has a view that the C Series joint venture with Airbus and Bombardier may increase sales volume of the programme.”

Avation shares edged 0.7% higher to 217p in early deals.

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March 13 2018
"Any simple maths will tell you that 9.6×6 months will see us generating over US$57.5mln in lease revenue in the second half"

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