Commercial airline lessor Avation (LON:AVAP) has bought five new short haul ATR72-600 turboprop aircraft and taken out an option over a further ten.
At list prices, the deal is valued at about US$130mln and makes it 35 ATR 72s that Avation has ordered since 2011.
The five aircraft purchased are scheduled to be delivered in 2017 and 2018, with the option planes in subsequent years up until 2023.
Jeff Chatfield, Avation’s executive chairman, said it had seen relatively superior lease yields from the regional aircraft in its portfolio.
Speading the deliveries also allows flexibility to serve existing and new airline clients, he said, adding the ATR 72 was the most efficient aircraft type for regional routes with lowest fuel burn and the most reduced operating costs among all its category.
Avation has 20 ATR 72s on lease currently with Virgin Australia, Flybe (for Scandinavian Airlines), UNI Air (Taiwan), Air India and Fiji Airways.