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Avation delivers aircraft for lease to Mandarin Airlines

The leases for the aircraft are at market rates and will last for eight years
Avation has agreed to lease three ATR 72-600 aircraft to Mandarin Airlines

Avation PLC (LON:AVAP) has delivered the second of three ATR 72-600 aircraft to Mandarin Airlines under leases agreed earlier this year.

The commercial passenger aircraft leasing company will deliver the third aircraft to the airline, a subsidiary of Taiwan's flag carrier China Airlines, before the end of the year. The leases, announced on July 19, are at market rates and will last for eight years.

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

"We are proud to be supporting Mandarin Airlines' fleet programme and to be delivering a second new ATR 72-600 aircraft,” said Avation executive chairman, Jeff Chatfield.

“The ATR 72-600 is the most popular 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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