Via
RNS and SGXNET
AVATION PLC
("Avation" or "the
Company")
TEN YEAR LOW CO2 AIRCRAFT
ORDERBOOK
EXERCISE OF TEN LOW CO2
AIRCRAFT PURCHASE RIGHTS; EXTENSION OF MATURITY ON INCREASED
PURCHASE RIGHTS BALANCE TO 2034
Avation PLC (LSE: AVAP), the
commercial passenger aircraft leasing company, is pleased to
announce that it has established the foundation for its regional
aircraft strategy for the next ten years, by both exercising
purchase rights for ten new ATR aircraft; extending the maturity of
residual purchase rights to 2034 and taking receipt of a further six
purchase rights at accretive commercial terms. ATR are the world's number one regional aircraft manufacturer
with the best-selling, latest technology, sustainable aviation fuel
("SAF") ready, low CO2 emissions aircraft in the less than 90-seat
market segment.
HIGHLIGHTS:
i. Avation already has two new
ATR 72 aircraft on order pursuant to the exercise of optional
purchase rights;
ii. Avation has exercised
purchase rights for ten additional ATR 72 aircraft for delivery
between the last quarter of 2025 and the first quarter of 2028. All
aircraft are expected to be 100% SAF compatible;
iii. New aircraft will be
delivered at a sensible pace in line with expected airline demand
and the manufacturer's production capacity; and
iv. In
addition, Avation has been granted additional purchase rights and
now holds purchase rights for a further 24 aircraft with an
extended expiry date of June 2034.
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
aircraft also contribute to enhancing 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. Avation believes 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 emissions
credentials are an essential addition to almost all major airlines'
regional networks."
Jeff Chatfield went further to say"
In our view each new aircraft delivery appears to be highly
accretive to shareholders and therefore this increase and extension
of purchase rights is highly value accretive for the
Company".
Nathalie Tarnaud Laude, Chief
Executive Officer of ATR, added: "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."
-ENDS-
Enquiries:
Avation PLC - Jeff Chatfield,
Executive
Chairman
+65 6252 2077
Avation welcomes shareholder
questions and comments and advises the email address for questions
is: investor@avation.net
and the Company provides an investor Q & A
during the conference call associated with release of results. The
head office telephone number is +65 6252 2077.
Notes to Editors:
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.
ABOUT ATR:
ATR is the world's number one
regional aircraft manufacturer with its ATR 42 and 72 aircraft, the
best-selling aircraft in the less than 90-seat market segment. The
unifying vision of the company's employees is to help everyone, no
matter where they are in the world, to connect and develop
responsibly. Thanks to the efficiency of turboprop technology and
the benefits of the company's focus on continuous innovation, ATR
aircraft open over 130 new routes on average every year, burn 45%
less fuel and emit 45% less CO2 than regional jets. For all of
these reasons, ATR aircraft have been chosen by some 200 companies
in 100 countries around the world. ATR is a joint-venture between
Airbus and Leonardo. For more information, please visit
www.atr-aircraft.com.