Passenger aircraft leasing group Avation PLC (LON:AVAP) has signed leases with Danish Air Transport for the supply of two new ATR 72-600 aircraft.
The leases are for 12 years and Avation will deliver the twin-engine turboprops in September and October this year.
READ: Avation adds another aircraft to leased fleet
DAT, which operates a fleet of 23 aircraft, is paying for the planes in euros, so Avation has secured matching euro matching euro financing to mitigate its currency exposure.
“The company is pleased to welcome DAT as an addition to the company's airline client base,” said executive chairman Jeff Chatfield.
“The company continually seeks long-term leases and these two 12-year leases align with our strategy. The addition of DAT is also a further step in the strategy of the company to diversify its customer portfolio.”