Singapore-based lessor Aviation has placed an order with turboprop manufacturer ATR for five new ATR 72-600 aircraft worth $130m at list prices.
The deal, signed at the Singapore Airshow on Tuesday (February 16), adds to Aviation’s existing fleet of 20 72-600 aircraft on lease to airlines worldwide.
Aviation, which has airlines including Virgin Australia, Flybe and Air India flying its aircraft on lease, said it expects to start taking delivery of the 72-600s from the OEM within the next two years.
Jeff Chatfield, Avation’s executive chairman, said: “We believe the ATR 72-600 is the most efficient aircraft type for regional routes. It provides the lowest fuel burn and the most reduced operating costs among all regional aircraft of its category.”