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Avation says it is considering Green finance opportunities for growth within its lower emissions aircraft fleet

"We believe that Avation will be eligible for green finance initiatives given the efficient nature of half of our fleet and we are willing to explore these as we grow and finance future aircraft from within our order book"

ATR plane
The firm owns a new technology low carbon emission fleet, including ATR and Airbus A220 aircraft

Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, has said it is considering Green finance opportunities for growth within its lower emissions aircraft fleet.

In a statement, Jeff Chatfield, Avation’s executive chairman said: "We believe that Avation will be eligible for green finance initiatives given the efficient nature of half of our fleet and we are willing to explore these as we grow and finance future aircraft from within our order book."

READ: Avation moves quickly to repossess two aircraft leased to Thomas Cook

The main market-listed firm owns a new technology low carbon emission fleet, including ATR and Airbus A220 aircraft, which by number comprise about 50% of its overall fleet.

It pointed out that, according to the manufacturer, the ATR 72-600 Aircraft has a significant environmental advantage over regional jets and other turboprops with 40% less CO2 emissions, representing a 4,000 tons CO2 saving per aircraft per year.

The group noted that turboprops are more efficient than jets on short sectors as they accelerate air using less power, so use less fuel. The ATR aircraft is the proven benchmark for short flights of about a one-hour duration.

In a statement, the company said: “Our ATR assets drive regional air connectivity, open economic development opportunities, connect people and cultures, boost tourism and guarantees better access to education, health, culture and the global market: turboprops can go responsibly where cars, trains or even boats just cannot.”

The group added that it is a supporter of ATR's objective of becoming a carbon-neutral company by 2030.

In addition, Avation noted, according to the manufacturer, Airbus, the A220 aircraft model has 20% lower CO2 emissions per seat than a comparable previous generation jet aircraft.

In early morning trading, Avation shares were 0.2% higher at 276.50p.

Quick facts: Avation PLC

Price: 269.5 GBX

LSE:AVAP
Market: LSE
Market Cap: £169.27 m
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