Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, has acquired and leased one factory new C Series CS300 aircraft to airBaltic, the Latvian hybrid carrier. The lease commenced on 15 June 2018 and is for 12 years and is at market lease rates.

Avation Executive Chairman, Jeff Chatfield said: "We are proud to be associated with airBaltic and we look forward to further developing our partnership. This aircraft is the first acquisition in a series of two aircraft. It is the first delivery for Avation of the new-technology single-aisle CS300 aircraft and we are pleased to be involved as a Lessor to the programme. The addition of this new aircraft type and new customer further enhances the diversity of the Company's portfolio."