Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, has announced the signing of a twelve-year lease agreement with Japanese airline JCAS Airways for a new ATR 72-600 aircraft.
Signing of this lease confirms the placement of the first of the series of ten ATR 72-600 aircraft ordered by Avation in May 2024 pursuant to the exercise of Purchase Rights under its long-term purchase contract with ATR. The aircraft, which is scheduled to be delivered in October 2025, will be the first aircraft in JCAS’ fleet.
The placement of this aircraft nearly a year ahead of its scheduled delivery is an illustration of the strong demand for the ATR 72 aircraft type for regional air travel.