Last checked at 14 Nov 2019 07:13
Via RNS and SGXNET
AVATION PLC
("AVAP" or "the 'Company")
GREEN FLEET WITH LOW CARBON EMISSIONS
Avation PLC, (LSE: AVAP), the commercial passenger aircraft leasing company, is considering Green finance opportunities for growth within its lower emissions aircraft fleet.
Avation owns a new technology low carbon emission fleet, including ATR and Airbus A220 aircraft, which by number comprise about 50% of Avation's overall fleet.
According to the manufacturer, ATR, the ATR 72-600 Aircraft has a significant environmental advantage over regional jets and other turboprops with 40% less CO2 emissions, representing a 4,000 tons CO2 saving per aircraft per year (*). Turboprops are more efficient than jets on short sectors as they accelerate air using less power, so use less fuel. The ATR aircraft is the proven benchmark for short flights of about a one-hour duration. We are a supporter of ATR's objective of becoming a carbon neutral company by 2030.
Our ATR assets drive regional air connectivity, open economic development opportunities, connect people and cultures, boost tourism and guarantees better access to education, health, culture and the global market: turboprops can go responsibly where cars, trains or even boats just cannot.
In addition, according to the manufacturer, Airbus, the A220 aircraft model has 20% lower CO2 emissions per seat than a comparable previous generation jet aircraft.
Executive Chairman Jeff Chatfield said "We believe that Avation will be eligible for green finance initiatives given the efficient nature of half of our fleet and we are willing to explore these as we grow and finance future aircraft from within our order book."
(*) per trip on an average route of 300NM (550km)
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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.