Singapore-based aircraft leasing company Avation has bolstered its fleet with a firm order for 10 ATR 72-600 turboprop aircraft. The order announcement by ATR, the world's leading manufacturer of regional turboprops, highlights Avation's confidence in the ATR aircraft's ability to serve the regional aviation market effectively. Deliveries are scheduled to progressively occur between 2025 and 2028, demonstrating Avation's long-term vision for its business strategy.
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This agreement marks a significant milestone in the enduring partnership between Avation and ATR, which began in 2011. Avation has extensive experience with ATR aircraft, having already received 36 ATR 72s with two more scheduled for delivery this year. Expressing Avation's satisfaction with the ATR aircraft, Jeff Chatfield, Executive Chairman of Avation PLC, highlighted the exceptional performance, strong airline demand, and positive secondary market value retention these planes offer.
Avation believes that fuel-efficient, sustainable, and technologically advanced aircraft like the ATR 72 will be in high demand for regional travel in the coming decade. Furthermore, Avation considers establishing a long-term strategy for acquiring new regional aircraft with favorable economics to be a key element of their business plan.
This order is accompanied by purchase rights for an additional 24 ATR 72-600s, extending the potential deliveries until 2034. This signifies Avation's commitment to ATR aircraft and their confidence in the future of regional aviation. The ATR 72-600 is known for its operational efficiency, environmental performance, and passenger comfort, making it a favorable choice for airlines serving regional routes.