ATR announces sale of 10 ATR 72-600 to Avation
Singapore-based lessor selects new generation turboprop with lowest CO2 emissions per trip on regional market
Toulouse, 2 May 2024 – ATR, the world’s number one regional aircraft manufacturer, today announced the signature of a firm order for 10 ATR 72-600 with Avation PLC. Deliveries are scheduled between 2025 and 2028, showcasing Avation’s long-term vision and confidence in the relevance of ATR’s products to serve the regional aviation market. The agreement is further complemented by 24 purchase rights, extending until 2034.
This order marks another milestone in the enduring relationship with Avation which began in 2011. Since then, the Singapore-based lessor took delivery of 36 new ATR 72s, with two more scheduled for delivery in the coming months, as part of a previous order. Avation currently owns a fleet of 20 ATRs.
Emitting 45% less CO2 per trip than similar-size regional jets, ATR aircraft are already 50% SAF compatible, with the aim to be 100% SAF ready in 2025, as part of the manufacturer’s commitment to low-emission aviation. These additional aircraft will also contribute to enhance regional connectivity to remote and underserved areas worldwide, linking communities and stimulating economic growth by attracting businesses, tourism and investment.
Jeff Chatfield, Executive Chairman of Avation PLC, said: “Over the years, we have witnessed the exceptional performance of ATR aircraft, and enjoyed both strong airline demand and secondary market value retention. Avation believes that over the next 10 years, low CO2, SAF compatible, latest technology aircraft such as the ATR 72, and potentially its EVO successor, will be an essential component for efficient travel worldwide. We also believe that establishing a ten-year programme for the supply of new regional aircraft with sensible economics is a key component of our long-term business strategy. ATR 72s with their low operating costs and class-leading low carbon credentials are an essential addition to almost all major airlines’ regional networks.”
Nathalie Tarnaud Laude, Chief Executive Officer of ATR, commented: “The continued trust from a longstanding customer is the best recognition of our efforts to remain relevant over the years, through continuous innovation. This agreement not only reinforces our collaboration with Avation, it also reflects the strong market demand for ATR aircraft. We are proud to contribute to the success and growth of Avation’s portfolio, while fulfilling our vision of accelerating sustainable connections by ensuring communities worldwide get a quick, responsible and reliable access to essential services.”
About Avation
Avation PLC is a commercial passenger aircraft leasing company, headquartered in Singapore, owning and managing a fleet of widebody, narrowbody jet and turboprop aircraft which it leases to airlines across the world. The Company’s customers include 16 commercial airlines in 14 countries. Avation’s fleet of aircraft is currently fully leased and utilised. The Company is listed on the London Stock Exchange with ticker AVAP.L more information on Avation is available at www.avation.net.
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About ATR
ATR is the world number one regional aircraft manufacturer with its ATR 42 and 72, the best-selling aircraft in the below 90-seat market segment. The unifying vision of the company is to accelerate sustainable connections for people, communities and businesses, no matter how remote. Flown by some 200 airlines in over 100 countries, ATR aircraft opened 160 new routes in 2023, facilitating the development of territories and enabling access to crucial services like healthcare and education. Thanks to ATR’s focus on continuous innovation and the intrinsic efficiency of the turboprop technology, ATR aircraft are the most advanced, versatile, cost-effective and lowest-emission regional aircraft on the market, emitting 45% less CO2 than similar-size regional jets. In January 2022, we flew the first ever commercial aircraft using 100% SAF in both engines. ATR is a joint-venture between Airbus and Leonardo.