Avation (LSE:AVAP), the Singapore-based commercial aircraft leasing company, has agreed six-year leases for two ATR 72-600 turboprops with Finnair, adding the Finnish flag-carrier to its customer base.
The aircraft, both owned by Avation, are transitioning from a previous lessee that underwent debt restructuring, with lease commencements scheduled for July 2026 and September 2026 respectively.
Executive Chairman Jeff Chatfield described Finnair, a member of the oneworld airline alliance, as a high-quality European carrier and said the deal represented "an important step in broadening Avation's customer base."
Chatfield also pointed to strengthening conditions in the regional aircraft segment, citing "a noticeable uptick in the regional aircraft market and second hand ATR 72-600 demand."
Separately, Avation has signed a 24-month lease letter of intent for a single ATR 72 engine with an undisclosed new airline client, which the company said demonstrates demand depth in the engine-leasing segment.
The two Finnair leases are scheduled to begin in July and September 2026.
