Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, has acquired and leased its fifth new Airbus A220-300 aircraft to airBaltic, the Latvian hybrid carrier. The 12-year lease for the aircraft MSN 55052 commenced on 26 April 2019.

The A220-300 is specifically designed and purpose-built for the 130-160 seat market. It represents the fusion of latest technology and performance, allowing airlines to connect distant points on continents or on sectors that were previously unprofitable or impossible.

The A220-300’s advanced aerodynamics combined with specifically designed Pratt & Whitney PurePower PW1500G geared turbofan engines contribute to an aircraft that delivers 20% lower fuel burn per seat than previous generation aircraft, with half the noise footprint, and decreased emissions, making it a true community-minded jetliner.

Avation’s Executive Chairman, Jeff Chatfield, said: “We are pleased to take delivery of our fifth of these latest-technology aircraft for our customer airBaltic. This addition grows takes our overall fleet to 44 with a further 12 aircraft on order out to the year 2022.”