Avation: Second ATR72-600 Delivery to Air India Regional

The Directors of Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announce that the Company has taken delivery of another new ATR 72-600 aircraft from the factory in France and that the aircraft has been delivered to Airline Allied Services Limited, otherwise known as Air India Regional, the domestic airline arm of Air India, the national carrier of India.

The lease is for an initial term is 12 years. This is the second ATR72-600 that the Company has delivered to Air India Regional and it joins the first aircraft delivered by the Company in December 2014. This delivery is the Company’s twenty-second new ATR 72 aircraft delivered to date.

Commenting today, Jeff Chatfield, Executive Chairman of Avation, said: “We are happy to fulfil this order from Air India Regional and to purchase another new ATR72 aircraft. It is pleasing to be the lead lessor in Air India Regional’s fleet renewal program. Air India Regional was a new customer in a new geographical region for the Company, diversifying the Company’s portfolio and we are pleased to be leasing to India’s national carrier.”