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Alliance News

Avation Leases Two Bombardier Aircraft To New Client AirBaltic

Wed, 13th Jun 2018 12:15

LONDON (Alliance News) - Aircraft leasing firm Avation PLC said Wednesday it had leased two Bombardier aircraft to Latvian airline airBaltic for 12 years.

Avation will lease the Bombardier CS300 aircraft - which will be acquired new on delivery - to airBaltic. The CS300 aircraft can seat up to 150 passengers.

No financial details were disclosed.

Currently, airBaltic has 31 aircraft and connects the Baltic region with 70 destinations in Europe, the Middle East and the commonwealth of independent states. The CIS includes Belarus, Kazakhstan, Russia and Armenia and several others.

"The company is pleased to welcome airBaltic as a addition to the company's airline client base," Avation Executive Chairman Jeff Chatfield said. "The company seeks long-term leases and these two 12-year leases align with our strategy."

"The company continues to diversify its aircraft portfolio and recognises the importance of new technology single-aisle aircraft such as the CS300 and is appreciative of the progress made by Bombardier to achieve the smooth and successful entry into service of the C Series," Chatfield added. "Avation has a view that the C Series joint venture with Airbus and Bombardier may increase sales volume of the programme."

Earlier in June, Airbus SE said it would take a majority stake in the C Series jet project of Canadian rival Bombardier Inc from the start of July.

Shares in Avation were 1.6% higher at 219.00 pence on Wednesday.

By Ahren Lester;

Copyright 2018 Alliance News Limited. All Rights Reserved.

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