Avation signs three ATR leases

Avation, the commercial passenger aircraft leasing company, has signed new five-year leases for three ATR 72-500 aircraft with the Australian airline Hevilift. Two of the new leases are follow-on leases for aircraft that are already operating with Hevilift and the third is a new lease. The first of the three leases commenced on August 10. These aircraft are all former Virgin Australia aircraft that the company has been remarketing since Virgin Australia entered administration and returned the aircraft to Avation. Virgin Australia returned six ATR 72-500 aircraft to Avation of which five have now been leased or sold. Avation’s Executive