Avation PLC on Wednesday said it has entered into a new lease agreement with an unnamed airline in the Pacific for its final remaining aircraft from inventory.
The aircraft leasing firm expects the lease of the ATR72-600 aircraft at a market rate for six years to be delivered in July.
The company added that it anticipates the global passenger market capacity to recover to 2019 levels, the last year before the Covid pandemic, by the end of 2023, citing aviation industry consultancy Cirium.
Avation PLC (LON:AVAP) is a commercial passenger aircraft leasing company owning a fleet of aircraft which it leases to airlines across the world. Avation’s future focus are new technology low CO2 emission aircraft.