Avation PLC - Singapore-based passenger aircraft leasing firm - Signs a lease agreement with new airline customer in the Pacific region. Says the lease is for an ATR 72-600 aircraft that was repossessed in August 2022, following the default of an airline in Myanmar. The aircraft is due to be delivered to the new customer for a lease term of 24 months. Notes that this reduces the number of off-lease aircraft in Avation’s fleet to two from three.

Executive Chair Jeff Chatfield says: ‘We are pleased to place this aircraft on lease to a new customer. Delivery will occur in the next few weeks. The management remains confident of placing or selling the two remaining unutilised aircraft before June 30, 2023.’

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