Finding a resurgent turboprop market, Irish regional aircraft lessor Abelo is boosting its portfolio of ATR twins with a new agreement for as many as 20 more ATR 72-600s. The agreement signed with ATR during the Dubai Airshow on Tuesday includes firm orders for 10 of the aircraft with options for an additional 10.
The latest deal comes a little more than a year after the then-start-up lessor placed its original order during the Farnborough Airshow for 10 ATR 72-600s and confirmed a deal for a further 10 of the short takeoff and landing ATR 42-600S. The company will begin taking delivery on that July 2022 initial order in December, while deliveries on the new contract run from 2026 through 2028. Meanwhile, it anticipates delivery of the first STOL ATR-42s in 2024.
Abelo CEO Steve Gorman said the lessor has placed the first four aircraft of the order, adding the market turned around faster and has grown more than it had anticipated. “With the momentum, we saw a need to increase our holding,” he said, driving Abelo to increase its portfolio sooner than expected.
Much of the growth comes from Southeast Asia, but Abelo most recently is seeing placements in Europe as carriers look to both replace and expand their fleets. "Having already introduced our initial batch of new aircraft, we have great confidence that our investment will greatly enhance our portfolio and play a vital role in the success of our airline partners," he said.
Plans call for delivery of the ATR 72-600s in standard 72-passenger configuration but Alexis Vidal, senior v-p of commercial for ATR, said that the company is exploring the addition of different cabin variations and will offer what the market demands.