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Avation adds new customer in the Philippines

Financing terms for the aircraft were good said executive chairman Jeff Chatfield.

turbo prop
Cebu is the largest domestic airline in the Philippines

Avation PLC (LON:AVAP) has added Cebu Air, the largest domestic airline in the Philippines, to its growing roster of customers.

Cebu will take control of a new ATR 72-600 turboprop aircraft to be delivered on 24 May through a sale and leaseback deal with Avation.

WATCH: Avation aims to double its fleet in next 7 years

The airline flies internationally to 26 destinations as well as domestically in the Philippines and has been consistently profitable since its IPO in 2010, Avation added. 

Financing terms for the aircraft were good said executive chairman Jeff Chatfield.

"We are very pleased to add an additional fuel-efficient ATR 72-600 aircraft to our fleet and to welcome Cebu Pacific as a new customer.”

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