Singapore’s Avation PLC Orders 5 More ATR 72-600s

Singapore-based Avation PLC has signed an agreement with the European regional turboprop aircraft manufacturer ATR, to purchase five additional ATR 72-600s.

The aircraft purchase, which involves the exercise of five options, is valued at some US$ 120 million, based on catalogue prices.

Deliveries of the five firm aircraft will take place in 2015.

Including this new order for aircraft, Avation PLC today has fourteen firm ATR72-600 aircraft to be delivered before the end of 2015.

As of today, thirteen ATR 72 aircraft have already been delivered on lease. In addition, Avation now has a total of 27 further options remaining to purchase additional aircraft under the agreement.

Commenting, Jeff Chatfield, Executive Chairman of Avation PLC said, “This order for five additional ATR72-600 aircraft is an important growth program for the Company allowing suitable expansion. This order is a demonstration of our commitment to grow the Company's portfolio with the most modern, efficient and environmentally friendly aircraft available.”

Filippo Bagnato, Chief Executive Officer of ATR, added, “We are pleased that Avation PLC is booking orders for new ATR aircraft for the third consecutive year. This is for us the major proof of their confidence on the multiple advantages of the ATRs for the development of their regional aviation business, both in Australia and in South East Asia. This order clearly consolidates the strong importance of leasing firms also in the market of short-haul and thin operations. Since 2010, leasing firms represent not only an increasing part of our portfolio of customers and backlog, but also a very dynamic, valuable and flexible solution for regional operators all over the world.”

ATR 72-600
Passenger capacity: 68 to 74 seats
Engines: Pratt & Whitney 127M
Maximum takeoff power: 2,750 horsepower per engine
Maximum takeoff weight: 23,000 kg
Maximum load: 7,500 kg
Maximum flight range when fully loaded: 900 nautical miles (1,665 km)