Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Avation PLC on Friday said that it has established a ‘low carbon transition pathway’ for its ATR orderbook.
The Singapore-based commercial passenger aircraft leasing company said that more than half of its fleet is comprised of 72 ATR aircraft. In addition, Avation said it has an orderbook of two ATR 72-600 aircraft to be delivered in 2021 and 28 purchase rights.
The company noted that ATR aircraft emit up to 40% less carbon.
Existing ATR 72-600 aircraft are certified by the European Union Aviation Safety Agency for the use of up to 50% sustainable aviation fuel.
ATR, Franco-Italian aircraft manufacturer, recently introduced an aircraft powered by the new Pratt and Whitney Canada PW127XT engine. ATR expects the engine will be able to operate with 100% SAF by 2025, with CO2 emissions being cut by 80% as a result.
Avation added that any future orders will include the PW127XT engine or its successors.
Earlier this month, ATR said it plans to develop and launch the ATR EVO programme by 2023. The focus of this programme will be an aircraft with a further 20% fuel efficiency improvement and close to net zero CO2 emissions. It is targeting an entry into service before 2030.
Executive Chair Jeff Chatfield said ‘Being a longstanding customer of ATR, Avation is extremely pleased with ATR's plan for technological developments of its aircraft which target close to net zero CO2 emissions and increased usage of SAFs.’
‘We remain supportive of further developments in efficiency and reductions in CO2 emissions, from which we stand to benefit through our ATR orderbook,’ he added.
Avation was trading 2.1% higher in London on Friday afternoon at 64.85 pence.
Copyright 2022 Alliance News Limited. All Rights Reserved.