Business
NEW AIRLINE CUSTOMER
NEW AIRLINE CUSTOMER.
About this update from Avation Plc
[{"type":"text","content":"\n\nVia RNS and SGXNET\nAVATION PLC\n(\"Avation\" or \"the Company\")\n \nNEW AIRLINE CUSTOMER\n \nAvation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, notes that the aircraft manufacturer, ATR, has made the following announcement at the Farnborough Air Show:\n \n*QUOTE*\n \n AVATION PLACES NEW ATR 72-600 AT JAPAN'S JCAS AIRWAYS\n \nFirst aircraft placed out of 10 from Avation PLC's recent order, demonstrating dynamism of regional market and attractiveness of ATR aircraft\n \nFarnborough, 25 July 2024 - World's number one regional aircraft manufacturer ATR proudly announces the signature of a Letter of Intent between Japanese startup airline JCAS Airways and Singapore-based lessor Avation PLC for the lease of an ATR 72-600. This milestone marks the commitment of JCAS Airways to launch operations with ATR's new generation turboprop. Delivery is scheduled for end 2025. The initial routes will connect Kansai to Toyama and Yonago.\n \nThe agreement comes on the heels of a recent order placed by Avation for 10 ATR 72-600 last May. The placement of this first aircraft, well ahead of its delivery, is a clear positive sign from the market, showcasing its dynamism and the liquidity of the ATR as an asset.\n \nWith its exceptional fuel efficiency, versatility, and ability to operate in challenging environments, the ATR 72-600 is the perfect choice for expanding domestic and regional connectivity in the Japanese market. It is the go-to aircraft for Japanese operators looking to deliver a superior and low-emission travel experience to their passengers, as well as for lessors and investors aiming to build an attractive portfolio with a high residual value.\n \nSeiji Shirane, Chief Executive Officer at JCAS Airways, stated: \"Today's achievement is a major milestone which takes us closer to the launch of our operations, with highly experienced partners by our side: leading lessor Avation and regional aircraft manufacturer ATR. Japanese communities rely massively on regional air links for everything from healthcare and trade to business and tourism, and JCAS Airways will contribute to revitalising our country, boosting its economy, making cultural experiences accessible, and maintaining a vital lifeline for the islanders of Japan.\"\n \nJeff Chatfield, Executive Chai...