orld number 1 regional aircraft manufacturer ATR announce that Singapore based lessor Avation PLC (AVAP: LSE) has converted two Purchase Rights into firm orders for just two ATR 72-600 aircraft. The aircraft will be leased to Bangladeshi airline US-Bangla, the biggest private airline in Bangladesh and will support the expansion of the airline’s turboprop fleet by increasing the number of ATR aircraft from 6 to 8. Furthermore, Avation has further acquired yet another two ATR 72-600 purchase rights to displace the ones that were exercised.
This development will dsicover the airline expand its operations using the most effective and eco-responsible aircraft available to buy, which burns 40 percent less fuel and emits 40 percent less CO2 when compared to a similarly-sized regional jet. With the cheapest seat mile cost in its market segment, the ATR 72-600 may be the only rewarding regional aircraft in low fares environments, and will be offering unmatched comfort in a modern, spacious cabin. Since incorporating their first ATR, the marketplace response has been good on the domestic network and their regional flights are supporting the growing Bangladeshi economy. Increasing how big is their ATR fleet also allows US-Bangla to improve their frequency on certain trunk routes, offering more choice to passengers.
Mohammed Abdullah Al Mamun, managing director of US-Bangla said: “Regional connectivity is vital in Bangladesh and the region. We are delighted that we can provide our passengers the opportunity to access new opportunities throughout the country. Operating the ATR 72-600 makes total sense in Bangladesh, we've received very good feedback from passengers and are incredibly content with the reliability and comfort of these aircraft. With the -600 series’ modern and comfortable cabin, featuring the most recent 18” wide passenger seats, we're able to give our passengers reduced experience, which is essential for US Bangla.”
Executive Chairman of Avation, Jeff Chatfield, commented: “The economics of the ATR 72-600, its wide customer base and tested environmental credentials make it an exceptionally attractive asset for both lessors and airlines operating in all types of environments. We are glad to foster our partnership with US-Bangla and see them expand their regional footprint and develop connectivity in Bangladesh.”
Stefano Bortoli, ceo of ATR, remarked: “It is pleasing to have two satisfied customers at the same moment. US-Bangla are continuing to improve their fleet size, showing the unrivalled performance of the ATR in providing regional connectivity throughout Bangladesh. We continually develop our product to make sure that operators and clients are satisfied. Aircraft with high asset values are crucial for lessors. So when Avation, using its market acumen and history of positioning aircraft, continues to order the ATR we realize our product is doing work for our customers.”
US-Bangla use their regional fleet to hook up most of Bangladesh and feed their international network from Dhaka. The worthiness of regional connectivity is proven, with a 10 percent upsurge in regional flights leading to a six percent upsurge in regional GDP and an eight percent upsurge in Foreign Direct Investment.