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15 Aug 2018 | 09:02

Avation lands leases to supply Danish Air Transport with two aircrafts

Commercial passenger aircraft leasing company Avation said Wednesday it had signed leases to supply Danish Air Transport with two new ATR 72-600 aircraft.

The aircraft would be delivered in Toulouse, France in September and October this year. The leases are 12 years.

Danish Air Transport is a Danish airline operating scheduled and charter services which, together with its Lithuanian sister company DOT LT, operates a fleet of 23 aircraft. '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,' said Jeff Chatfield, Executive Chairman of Avation. '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.'

At 9:02am: (LON:AVAP) Avation Plc share price was 0p at 222p

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