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Avation PLC

Avation leases four more Airbus A220-300 planes to airBaltic

“We are growing our fleet with four more A220-300 aircraft leased to airBaltic and we are very proud to be expanding our partnership with this growing and popular airline.”

airbaltic plane
airBaltic will lease the planes for 12 years

Aircraft leasing company Avation PLC (LON:AVAP) has bought four new Airbus A220-300 planes which it has immediately leased out to Latvian carrier airBaltic.

The low-cost airline leased two A220-300s from Avation earlier in the year and these additional planes will be delivered directly from the final assembly line in the second quarter of 2019.

READ: Avation adds another A220-300 to its leased fleet

As with the other single-aisle aircraft, airBaltic has agreed to lease the new planes for 12 years.

“We believe the A220-300 is an excellent, highly fuel-efficient new technology aircraft,” said Avation executive chairman Jeff Chatfield.

“We are growing our fleet with four more A220-300 aircraft leased to airBaltic and we are very proud to be expanding our partnership with this growing and popular airline.”

Vitold Jakovlevs, the chief financial officer of airBaltic added: “Avation has again demonstrated their competitiveness which, combined with our good experience with the first two aircraft, is why we have selected them a second time.”

Quick facts: Avation PLC

Price: £2.80

Market: LSE
Market Cap: £179.23 m
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