Avation PLC (AVAP), an aircraft leasing company headquartered in Singapore on Friday announced that it has signed a twelve-year lease agreement with Japanese airline JCAS Airways for a new ATR 72-600 aircraft.
Signing of the 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, would be the first aircraft in JCAS' fleet.
The company believes that 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.
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