Avation completes sale of new aircraft

14th Mar 2014 07:46

Avation, a commercial passenger aircraft leasing company, has completed a sale and delivery of a new ATR72-600 aircraft. The company purchased the aircraft new after exercising an option from the manufacturer and then immediately sold it to a third party following delivery on March 13th. The transaction completes the sale of the second aircraft that was announced in November. Executive Chairman Jeff Chatfield said: "We own an extensive option pipeline of new ATR72 aircraft with numerous delivery positions, and assess the risk in geography and each opportunity on a portfolio basis and take action accordingly. "When the economic parameters of a transaction are suitable we are willing to trade new and second-hand aircraft as a matter of policy."The group added the aircraft was sold at the prevailing market price, and said the profits were "typical of transactions of this nature".NR