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Avation adds another aircraft to leased fleet

"We have expanded our fleet with a second delivery to Air Baltic and we are proud to be associated with this growing and popular airline,” said Jeff Chatfield, Avation executive chairman
Airbaltic aircraft
The 12-year lease is already underway

Avation PLC (LON:AVAP) told investors that it has acquired and leased a second new Airbus A220-300 aircraft to airBaltic.

It is a 12-year lease, beginning July 19, and it is priced at the market rate.

"We have expanded our fleet with a second delivery to Air Baltic and we are proud to be associated with this growing and popular airline,” said Jeff Chatfield, Avation executive chairman.

READ: Avation estimates revenue jump for full-year

“The Bombardier CS300 aircraft has been rebranded the Airbus A220-300 following completion of the acquisition of a majority stake in the C Series Aircraft Limited Partnership by Airbus.

“The A220-300 seats 130-160 passengers and has a range of up to 3,300 nautical miles. Avation is pleased to be involved with this programme as a Lessor and we are optimistic about the sales prospects for this new-technology, fuel efficient aircraft type."

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"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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