StockMarketWire.com - Aircraft leasing company Avation said it had sold a 2011 built ATR 72-500 aircraft.

The aircraft was one of 11 ATR aircraft previously leased to Virgin Australia, which were redelivered to the Company when Virgin entered administration.

The sale of this aircraft leaves Avation with seven remaining aircraft previously leased to Virgin which will be transitioned or sold.

In a separate agreement, the company also announced that it had reached an agreement with Avions de Transport Regional to reduce its committed orderbook from eight to two aircraft while retaining future flexibility afforded by additional purchase rights with extended expiry dates.

Avation previously had eight ATR 72-600 aircraft on firm order from Avions de Transport Regional.

Avions de Transport Regional and Avation have agreed to modify the orderbook.

Following this amendment, Avation holds firm orders for two ATR 72-600 aircraft and purchase rights for 28 additional aircraft.

Delivery dates for the two remaining ordered aircraft had been rescheduled to the fourth quarter of 2022.

All purchase rights had been extended and are available for aircraft with delivery dates on or prior to the end of 2027.




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