ATR Adds To Bumper Order Crop With Fresh Sale To GECAS
January 04 2012 - 11:04AM
Dow Jones News
ATR, a Franco-Italian builder of turboprop passenger aircraft,
said Wednesday it has booked two new firm orders and two options
from GE Capital Aviation Services, the commercial aircraft leasing
and financing arm of General Electric Co. (GE).
The orders for short-haul, 78-seat ATR72-600 aircraft adds to
ATR's bulging order book, which was boosted by a record order
intake in 2011 of more than 150 fresh orders, making a backlog
equivalent to four years of production. The previous annual sales
record was 2007, when ATR sold 113 aircraft.
ATR has benefited from the rising cost of jet fuel, which has
encouraged regional airlines to opt for turboprop aircraft, which
offer reduced fuel burn and generally cheaper operating costs than
jet aircraft.
The latest GECAS orders, potentially worth more than $91 million
if the options are converted into firm orders, follows on from a
firm contract for 17 ATR aircraft and the same number of options
signed at the Paris Air Show in June.
GECAS has already leased three of the aircraft to Brazilian
regional carrier TRIP Linhas Aereas and has signed with Jet Airways
(India) Ltd. (532617.BY) for another five units, ATR said.
ATR is a joint venture between European Aeronautic Defence &
Space Co. NV (EAD.FR) and Alenia Aermacci, a unit of Italy's
Finmeccanica SpA (FNC.MI).
With some 180 airlines now operating ATRs worldwide, it has
become easier for leasing companies to place their aircraft. About
20% of the ATR airfcraft sold last year went to leasing
companies.
-By David Pearson, Dow Jones Newswires; +331 4017 1740;
david.pearson@dowjones.com
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