Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, has acquired and leased a second new Airbus A220-300 aircraft to airBaltic, the Latvian hybrid carrier. The 12-year lease commenced on 19 July 2018 and is at a market lease rate.

Avation's Executive Chairman, Jeff Chatfield said: "We have expanded our fleet with a second delivery to Air Baltic and we are proud to be associated with this growing and popular airline. The Bombardier CS300 aircraft has been rebranded the Airbus A220-300 following completion of the acquisition of a majority stake in the C Series Aircraft Limited Partnership by Airbus. The A220-300 seats 130-160 passengers and has a range of up to 3,300 nautical miles. Avation is pleased to be involved with this programme as a Lessor and we are optimistic about the sales prospects for this new-technology, fuel efficient aircraft type."