Avation re-leases five Virgin Australia aircraft 

Avation the commercial passenger aircraft leasing company has entered into commercial arrangements in respect of five aircraft that were on lease to Virgin Australia, which entered administration on April 21. Avation has entered into agreements to lease two of the former Virgin Australia ATR 72- 500s to another commercial airline in Australia, until the end of 2021, at current market lease rates. Avation has signed a conditional letter of intent for one of the former Virgin Australia ATR 72- 500 aircraft with an airline customer for an operating lease period of five years at current market rates. Furthermore, the company