Avation Secures New Lease Agreement with PNG Air
Why we think this is good
The announcement of a new lease agreement with an existing customer, PNG Air, is a positive development for Avation. While the financial details are not provided, the multi-year nature of the lease suggests a steady stream of revenue for the company. The lack of any significant risks or concerns in the RNS content contributes to the overall positive sentiment.
Key Points
- New six-year lease agreement with existing customer PNG Air
- Aircraft currently on lease to Mandarin Airlines to be transitioned to PNG Air in Q4 2025
Summary
Avation PLC has announced the signing of a six-year lease agreement with existing customer, PNG Air, for one ATR 72-600 aircraft currently on lease to Mandarin Airlines. The aircraft is scheduled to be transitioned to PNG Air during the fourth quarter of 2025. The RNS does not provide specific financial details, but the multi-year nature of the lease suggests a steady stream of revenue for the company.