REG - Avation PLC - NEW AIRLINE CUSTOMER

AvationAnnouncement

25/07/2024 11:00

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RNS Number : 8584X  Avation PLC  25 July 2024

Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

 

NEW AIRLINE CUSTOMER

 

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company,
notes that the aircraft manufacturer, ATR, has made the following announcement
at the Farnborough Air Show:

 

*QUOTE*

 

 AVATION PLACES NEW ATR 72-600 AT JAPAN'S JCAS AIRWAYS

 

First aircraft placed out of 10 from Avation PLC's recent order, demonstrating
dynamism of regional market and attractiveness of ATR aircraft

 

Farnborough, 25 July 2024 - World's number one regional aircraft manufacturer
ATR proudly announces the signature of a Letter of Intent between Japanese
startup airline JCAS Airways and Singapore-based lessor Avation PLC for the
lease of an ATR 72-600. This milestone marks the commitment of JCAS Airways to
launch operations with ATR's new generation turboprop. Delivery is scheduled
for end 2025. The initial routes will connect Kansai to Toyama and Yonago.

 

The agreement comes on the heels of a recent order placed by Avation for 10
ATR 72-600 last May. The placement of this first aircraft, well ahead of its
delivery, is a clear positive sign from the market, showcasing its dynamism
and the liquidity of the ATR as an asset.

 

With its exceptional fuel efficiency, versatility, and ability to operate in
challenging environments, the ATR 72-600 is the perfect choice for expanding
domestic and regional connectivity in the Japanese market. It is the go-to
aircraft for Japanese operators looking to deliver a superior and low-emission
travel experience to their passengers, as well as for lessors and investors
aiming to build an attractive portfolio with a high residual value.

 

Seiji Shirane, Chief Executive Officer at JCAS Airways, stated: "Today's
achievement is a major milestone which takes us closer to the launch of our
operations, with highly experienced partners by our side: leading lessor
Avation and regional aircraft manufacturer ATR. Japanese communities rely
massively on regional air links for everything from healthcare and trade to
business and tourism, and JCAS Airways will contribute to revitalising our
country, boosting its economy, making cultural experiences accessible, and
maintaining a vital lifeline for the islanders of Japan."

 

Jeff Chatfield, Executive Chairman of Avation PLC, commented: "We congratulate
JCAS Airways on their decision to select the ATR 72-600 as their aircraft of
choice to expand regional air travel throughout Japan, and Avation PLC as
their leasing partner. By investing in latest generation, industry-leading low
carbon footprint, SAF compatible aircraft, such as the ATR 72, we are all
investing in a more sustainable future for aviation, contributing to reinforce
much needed connectivity between regions and communities."

 

"We are thrilled to witness Avation's successful aircraft placement and
welcome JCAS Airways in the ATR family", said Alexis Vidal, ATR's SVP
Commercial. "This strategic partnership not only strengthens ATR's presence in
Japan, it also highlights the dynamic nature of our market and the undeniable
appeal of the ATR 72-600. Its unmatched performance, fuel efficiency and
passenger comfort make it the optimal choice for operators seeking to unlock
the full potential of regional connectivity. We will support JCAS Airways in
their journey to provide reliable and affordable air transportation to
passengers across the country."

 

Japan is a vast archipelago covering 378,000 sq km and nearly 7,000 forest and
mountain-covered islands, 420 of which are inhabited. The regional
connectivity provided by the 20 ATRs today flying with five operators is vital
to many, not just for trade and commerce but also for access to essential
services such as healthcare and education.

 

ATR is committed to working closely with Avation and JCAS throughout the
aircraft delivery process and beyond, providing comprehensive support and
expertise to ensure a successful launch of operations.

ABOUT JCAS AIRWAYS

 

JCAS Airways: Pioneering a New Approach to Regional Aviation

JCAS Airways, a Japanese regional airline, was established in June 2023. The
company is currently led by co-CEOs Seiji Shirane and Yuki Umemoto, along with
a team of professionals experienced in launching new ventures and operating
and maintaining airline services. The airline is gearing up to commence
operations, with Kansai International Airport (KIX) as its hub. The initial
routes will connect Kansai to Toyama (TOY) and Yonago (YGJ). Unlike
traditional regional airlines, JCAS Airways aims to do more than merely
connect different regions through air travel. The company is dedicated to
enhancing the appeal of the area it serves by developing local attractions and
providing unique on-site experiences and contributing to regional
revitalisation. In its inaugural year, JCAS Airways plans to start with one
aircraft and two routes with an ambitious plan to expand its fleet to seven
aircraft and its network to 16 routes over the next five years.

 

ABOUT AVATION PLC

 

Avation PLC is a commercial passenger aircraft leasing company, headquartered
in Singapore, owning and managing a fleet of widebody, narrowbody jet and
turboprop aircraft which it leases to airlines across the world. The Company's
customers include 16 commercial airlines in 14 countries. Avation's fleet of
aircraft is currently fully leased and utilised. The Company is listed on the
London Stock Exchange with ticker AVAP.L more information on Avation is
available at www.avation.net.

 

ABOUT ATR

 

ATR is the world number one regional aircraft manufacturer with its ATR 42 and
72, the best-selling aircraft in the below 90-seat market segment. The
unifying vision of the company is to accelerate sustainable connections for
people, communities and businesses, no matter how remote. Flown by some 200
airlines in over 100 countries, ATR aircraft opened 160 new routes in 2023,
facilitating the development of territories and enabling access to crucial
services like healthcare and education. Thanks to ATR's focus on continuous
innovation and the intrinsic efficiency of the turboprop technology, ATR
aircraft are the most advanced, versatile, cost-effective and lowest-emission
regional aircraft on the market, emitting 45% less CO2 than similar-size
regional jets. In January 2022, we flew the first ever commercial aircraft
using 100% SAF in both engines. ATR is a joint-venture between Airbus and
Leonardo. Visit us on www.atr-aircraft.com (http://www.atr-aircraft.com/) for
more information.

 

MEDIA RELATIONS

 

Charlotte GIURIA
 
Luca ACCINNI

+33 (0)6 80 48 20
96
+33 (0)6 23 36 67 35

charlotte.giuria
@atr-aircraft.com
luca.accinni@atr-aircraft.com

 

 

*END QUOTE*

 

 

 

-ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive
Chairman
+65 6252 2077

 

Avation welcomes shareholder questions and comments and advises the email
address is: investor@avation.net

Notes to Editors:

Avation PLC is an aircraft leasing company, headquartered in Singapore, owning
and managing a fleet of commercial passenger aircraft which it leases to
airlines around the world. More information on Avation is available at
www.avation.net.

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