Avation leases first commercial aircraft financed with green loan

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Avation leases first commercial aircraft financed with green loan

Avation PLC (LON:AVAP) has leased the first commercial aircraft financed with a green loan.

The green loan, which refers to lending dependent on environmental criteria for the planned use of funds, was provided by Deutsche Bank and the lease was made to Swedish regional airline Braathens.

READ: Avation leases ATR 72-600 aircraft to Swedish airline Braathens

The plane is the first in a series of five new ATR 72 turboprop aircraft, which emits 40% less CO2 than a comparable regional jet, thanks to their turbine engines.

The London-listed company said 26 aircraft out of a fleet of 48 are ATR 72s.

“We anticipate financing cost improvements as a consequence of these green finance initiatives as the market develops,” executive chairman Jeff Chatfield said in a release.

“Avation will be ideally placed due to an improving credit rating outlook and its modern technology, new, fuel efficient and lower carbon aircraft fleet.”

Proactiveinvestors.co.uk

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