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Avation leases final ATR 72 aircraft to Nepalese carrier Yeti Airlines

Published 06/09/2022, 09:31
Updated 06/09/2022, 09:40
© Reuters.  Avation leases final ATR 72 aircraft to Nepalese carrier Yeti Airlines

Commercial passenger aircraft leasing company Avation (LON:AVAP) has completed the delivery of one ATR 72-500 twin-engine aircraft to Nepal-based carrier Yeti Airlines on an operating lease.

Yeti Airlines represents a new customer for London-listed Avation, and Nepal is also a new jurisdiction.

This unencumbered aircraft is the company's final ex-Virgin Australia ATR 72-500 to be leased out.

Avation's executive chairman Jeff Chatfield said: "We are pleased to establish an operating lease transaction with Yeti Airlines on our last available ATR 72-500 aircraft.

“We are observing recovery in the air travel industry, notably in the regional sector where the ATR 72 is the best-suited aircraft."

Headquartered in Singapore, Avation owns and manages a fleet of commercial passenger aircraft which it leases to airlines around the world.

AVAP shares are trading at 77.6p as of September 6 09:35 BST.

Read more on Proactive Investors UK

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