Singapore-based lessor Avation has exercised its options with ATR to acquire eight ATR 72-600 turboprops. All eight aircraft are scheduled for delivery between 2020 to 2022. Total value of the aircraft is approximately $214.4 million at list prices.

An ATR spokesperson told ATW the deal was confirmed the last week of December, bringing Avation’s total of ATR 72-600s on order to 11.

“In addition to this order, the company has maintained its purchase rights and price protection over a further 25 aircraft extending to December 2025,” Avation executive chairman Jeff Chatfield said. “We equally confirm our willingness to potentially convert some of our orders and or options to the freighter version which we foresee to have a positive outlook.” 

Chatfield said Avation is the one of the few lessors with wide delivery positions spread across the calendar years, allowing client airlines to space their delivery in accordance to their crew recruitment and other requirements.

While it is unclear if the new ATR 72-600 are slated for any carriers, Avation’s current clients include Philippines Airlines, Mandarin Airlines and Virgin Australia, with the latter two flying ATR 72-500/600 aircraft leased from Avation.

Toulouse-based ATR is bullish about the potential of its turboprops in Asian markets like Korea and Vietnam, where most air and land links are oriented north-south. The company contends its ATR 72 will be able to establish new routes in the connecting east and west cities in these markets. The ATR spokesperson also confirmed that the manufacturer’s first freighter variant is still set for 2020 delivery to Memphis-based FedEx.

Chen Chuanren, chuanren@purplelightvisuals.com

Thierry Dubois, thierry.dubois@aviationweek.com