ATR announces Letter of Intent with JCAS Airways and Avation PLC
July 25, 2024
A Letter of Intent has been signed between regional aircraft manufacturer ATR, Japanese startup airline JCAS airways, and Singaporean lessor Avation PLC for the lease of an ATR 72-600. With delivery scheduled for the end for 2025, the initial routes will connect Kansai to Toyama and Yonago. The agreement comes on the back end of an order placed by Avation PLC for 10 ATR 72-600 last May.
The aircraft is fitting to expand domestic and regional connectivity in the Japanese market, offering low-emissions travel, versatility, and the ability to operate in challenging environments. It is also a good opportunity for lessors and investors aiming to build an attractive portfolio with high residual value.
“Today’s achievement is a major milestone which takes us closer to the launch of our operations, with highly experienced partners by our side,” side Seiji Shirane, Chief Executive Officer at JCAS Airways. “Japanese communities rely massively on regional air links for everything from healthcare and trade to business and tourism, and JCAS Airways will contribute to revitalising our country, boosting its economy, making cultural experiences accessible, and maintaining a vital lifeline for the islanders of Japan.”
Japan faces connectivity challenges as an archipelago consisting of several thousand islands and covering 378,000 sq km. Regional connections are vital not only for trade, commercia, and tourism, but for essential services such as healthcare and education.
“We are thrilled to witness Avation’s successful aircraft placement and welcome JCAS Airways in the ATR family”, said Alexis Vidal, ATR’s SVP Commercial. “This strategic partnership not only strengthens ATR’s presence in Japan, it also highlights the dynamic nature of our market and the undeniable appeal of the ATR 72-600.”
Jeff Chatfield, Executive Chairman of Avation PLC added, “By investing in latest generation, industry-leading low carbon footprint, SAF compatible aircraft, such as the ATR 72, we are all investing in a more sustainable future for aviation, contributing to reinforce much needed connectivity between regions and communities.”
