Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that it has signed leases with Danish Air Transport A/S ("DAT") for the supply of two new ATR 72-600 aircraft. The aircraft will be delivered in Toulouse, France in September and October this year. The leases are 12 years.
DAT is a Danish airline operating scheduled and charter services which, together with its Lithuanian sister company DOT LT, operates a fleet of 23 aircraft.
Jeff Chatfield, Executive Chairman, said: "The Company is pleased to welcome DAT as an addition to the Company's airline client base. DAT is a highly respected operator in Europe. The Company continually seeks long-term leases and these two 12-year leases align with our strategy. Lease payments for the aircraft are denominated in Euros. Avation has secured matching Euro financing for the aircraft to mitigate currency exposure. The addition of DAT is also a further step in the strategy of the Company to diversify its customer portfolio."
Captain Jesper Rungholm, President of DAT said: "We are impressed with Avation PLC and are delighted to welcome them as a valued business partner. We look forward to the introduction of these two new ATR 72-600 aircraft, which will allow DAT to strengthen its fleet and to offer an improved, modern product to our customers."