Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that Far Eastern Air Transport Corp. of Taiwan ("FAT") has selected AVAP for the supply of one new ATR 72-600 aircraft on a twelve-year operating lease.

AVAP and FAT have entered into a conditional letter of intent for the lease of the aircraft. The aircraft will be configured to the customer's specifications and is expected to be delivered during September 2018. FAT announced its decision to Taiwanese media on 1 June 2018. The transaction is subject to completion of definitive documentation and customary conditions precedent.


The Company has now placed one out of the three remaining 2018 ATR 72 deliveries in its aircraft order book.

Jeff Chatfield, Executive Chairman, said: "Avation's strategy is to continue to diversify its lessee operator base and we welcome Far Eastern Air Transport Corp. of Taiwan as a customer. The ATR 72 is still the most popular and, on a per-seat-basis, the most fuel efficient commercial turboprop aircraft globally."