Commercial passenger aircraft lessor Avation has completed the delivery and sale of a new ATR 72-600 aircraft to an airline in the Caribbean region. This aircraft is the second of two transactions originally announced in May 2024, generating approximately $5 million in net cash proceeds for the company.
Following this sale, Avation has ten ATR 72-600 aircraft on order for delivery between the fourth quarter of 2025 and the second quarter of 2028, along with purchase rights for up to 24 additional aircraft.
Jeff Chatfield, executive chairman of Avation, stated: “The company is pleased to have closed another profitable sale transaction, illustrating the continued strength in the market for ATR turboprop aircraft and the value in Avation's orderbook and purchase rights.”
This transaction follows the Singapore-based lessors' agreement to sell a 777-300ER widebody aircraft earlier this week, currently leased to Philippine Airlines, expected to release around $33 million in net cash proceeds.