LONDON, UK: Avation PLC, the commercial passenger aircraft leasing company announced that it 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 the 10th of August.

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 Chairman, Jeff Chatfield said: “We are pleased to sign these long-term leases with Hevilift, an existing and valued customer. We are starting to observe a recovery in the air travel industry, notably in the regional sector where the ATR 72 is the optimal aircraft.”

Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world. www.avation.net

Established in 1994, HEVILIFT is a leading Fixed and Rotary Wing Aviation Services operator providing charter solutions for the transportation of Personnel and Equipment in a variety of fields.

HEVILIFT has a diverse fleet of Fixed and Rotary Wing Aircraft backed by a highly experienced team. HEVILIFT’s team of management professionals, flight crew, maintenance personnel and support staff are industry leaders in their fields, they provide knowledge, skills and experience from extensive careers within and beyond the aviation industry.

HEVILIFT provides comprehensive aviation solutions to industry and Governments through a wide variety of operational roles in some of the world’s most challenging terrains. www.hevilift.com