Avation PLC (LSE:AVAP) has agreed an eight-year lease with a European airline for an ATR 72-600 aircraft that is currently eight years old. The aircraft is due to be transitioned to its new operator in February 2026 once its existing lease ends.
Jeff Chatfield, Avation’s executive chairman, said the deal strengthens the company’s long-term revenue base and broadens its customer mix. “We are pleased to have placed this aircraft on a long-term, eight-year lease with a new customer,” he said.