Singapore-based lessor Avation has acquired one ATR 72-600 which is now on lease to South Korea’s SUM Air.
The aircraft, which is the first ATR aircraft to be received by SUM Air, is on a 12-year lease.
It is one of ten new ATR 72-600 aircraft that were ordered by Avation in 2024, pursuant to the exercise of purchase rights with ATR.
Jeff Chatfield, executive chairman of Avation, said that SUM Air is the lessor's first customer in South Korea.
"We are pleased to purchase this aircraft, which is currently unencumbered and which has been placed on lease with a new airline customer. We look forward to a long and successful business relationship with SUM Air."
SUM Air is a regional air mobility (RAM) airline that focuses on connecting islands and remote areas of South Korea using ATR turboprop aircraft. The name "SUM" means "island" in Korean.
“With its ability to take off and land on short runways, the ATR72-600 is perfectly suited for domestic regional and island routes,” said SUM Air.
“Its high-wing design allows passengers to enjoy wide, unobstructed views during their flight.”