Regional aircraft manufacturer ATR said Singapore-based leasing company Avation has exercised purchase rights for five additional ATR 72-600 turboprop aircraft in a deal that extends a long-running partnership between the two companies and brings Avation’s total net firm orders with ATR to 54 aircraft.

In a press release issued on March 16, ATR said the latest order stems from a long-term framework agreement signed with Avation in 2011. The aircraft—all of the model ATR 72-600—are scheduled for delivery in 2028 and 2029.

The order represents the 50th to 54th ATR aircraft placed by Avation since the start of cooperation between the companies about 15 years ago. Over that period, the Singapore-headquartered lessor has built up a turboprop portfolio and currently has 27 ATR aircraft leased to operators worldwide. According to ATR, Avation has also placed aircraft with three new airline operators in the past six months.

Avation Executive Chairman Jeff Chatfield said the latest commitment converts five previously secured purchase rights into firm orders, adding to the company’s future fleet pipeline. He described the ATR 72-600 as one of the most fuel-efficient aircraft in the regional aviation segment, with comparatively low seat-mile and operating costs, making it suitable for regional routes and for replacing older aircraft.

Chatfield said the order is intended to support Avation’s expansion plans toward the late 2020s and increase aircraft availability for airline customers operating in high-growth regional markets. He also cited industry forecasts projecting demand for more than 2,000 new turboprop aircraft globally over the next two decades for fleet renewal and network growth.

ATR Chief Executive Officer Nathalie Tarnaud Laude said the decision underscores the role leasing companies play in expanding the use of ATR aircraft. She noted that many airlines initially operate ATR aircraft through leasing arrangements before later adding new units to their own fleets.

Industry analysts say turboprop aircraft such as the ATR 72-600 are widely used on short-haul and regional routes, particularly in markets where lower operating costs and the ability to serve smaller airports are key factors. Leasing companies like Avation often help airlines expand capacity without making immediate large capital investments, which can influence route development and connectivity in regional aviation markets.

ATR said the additional aircraft will be delivered between 2028 and 2029 as part of Avation’s ongoing fleet expansion strategy. The manufacturer indicated that continued cooperation with leasing partners is expected to support future growth in regional air travel and the gradual replacement of older, less efficient aircraft worldwide.

Source: ATR Press Release