Aircraft financing and leasing company GE Capital Aviation Services (GECAS)has placed a firm order for five ATR 72-600 regional turboprops and optioned five more.
ATR values the deal ‒ which was announced on the second day of the Dubai Airshow 2013 ‒ at US$241 million, including the potential price if GECAS exercises all its options.
Deliveries of the five aircraft for which GECAS has placed firm orders will begin in 2015.
Norman Liu, president and CEO of GECAS, and Filippo Bagnato, ATR’s chief executive officer, signed the contract at the Dubai Airshow 2013.
“The ATR 72-600 is a key piece of GECAS’s regional aircraft portfolio of modern, fuel-efficient aircraft,” said Liu. “We have seen significant market interest in the ATRs and that is why we have added more of them to our portfolio. These aircraft will support the strong growth in regional air transport we anticipate over the coming years.”
Previously, at the Paris Airshow on June 20, 2011, GECAS had placed its first-ever order for ATR regional turboprops, ordering 15 of the latest ATR 72 model and optioning 15 more. ATR valued that deal at $680 million, assuming GECAS exercised all its options.
Since 2010, lessors have purchased more than 100 new ATR-600 aircraft, contributing to what ATR says is its almost-75 per cent market share of total orders for turboprop regional airliners up to 90 seats during that period.