Chorus Aviation acquires six ATR 72-600s, leased to Flybe and Virgin Australia

Chorus Aviation announced (29-Jun-2017) subsidaries of Chorus Aviation Capital completed the acquisition of six ATR 72-600 aircraft with attached leases from Avation PLC. The acquisition was completed using a combination of equity capital from Chorus and term debt financing consistent with previously indicated leverage ratios for the Chorus Aviation Capital business. The aggregate purchase price for the aircraft is consistent with current market values for similar aircraft. The acquisition agreements were previously announced on 24-Apr-2017. The acquired aircraft are between one and four years old. Three are currently on lease to Flybe and three are currently on lease to Virgin Australia. [more - original PR]