Avation (LSE:AVAP) has signed an eight-year lease with FlyJaya, an Indonesian airline, for an ATR 72-600 at current market lease rates, with the aircraft delivered on 3 June.
The deal, which Avation describes as part of its strategy to diversify its airline customer base, gives the Singapore‑headquartered commercial passenger aircraft lessor a multi-year revenue stream from a widely used regional turboprop type.
"This eight-year lease term is an attractive duration, underlining the strength of demand for the ATR 72-600 aircraft type and providing long-term revenue visibility for the Company," Jeff Chatfield, Executive Chairman.
