Avation PLC

Avation delivers second ATR 72-600 turboprop plane to Danish Air Transport

The lease for this aircraft is for 12 years, which fits in with Avation’s strategy of leasing out its aircraft for longer periods of time

atr 72-600
A new ATR 72-600 costs around US$25mln brand new

Commercial passenger aircraft leasing company Avation PLC (LON:AVAP) has delivered a second brand new ATR 72-600 plane to Danish Air Transport (DAT).

The first of the twin-engine turboprops was delivered back in October. Both planes are on 12-year leases.

READ: Avation delivers first ATR turboprop to DAT

“We are pleased to continue delivering aircraft from our order book,” said executive chairman Jeff Chatfield.

“This new aircraft was delivered to DAT today at ATR's facility in Toulouse, France.”

Chatfield added: “Avation currently holds options for 25 additional new ATR 72-600 aircraft with delivery dates extending out to 2023. We note with interest the recent developments concerning the sale by Bombardier of the Q400 production line. Avation has no exposure to Q400 aircraft.”

Montreal-based Bombardier sold off the slow-selling Q400 line to Viking Air earlier this month for around US$250mln.

Avation shares edged 0.5% higher to 254.8p in late-morning trading on Friday.

Quick facts: Avation PLC

Price: £2.80

Market: LSE
Market Cap: £179.23 m

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