Lonrho to acquire 8 ATR 72-500s for airline Fly540
Toulouse, 11 January 2008
ATR and the pan-African investing conglomerate Lonrho today announced the signature by Lonrho’s wholly-owned subsidiary, Lonrho Air, of a MoU for the purchase of 8 ATR 72-500s. The aircraft will be operated by Fly540, an airline belonging to the conglomerate. The deal, which includes a comprehensive support and spares package, is valued at over US$ 150 million.
The aircraft will be configured with 66 seats, including 12 in first class, and will be equipped with higher rated PW 127M engines, with the “Elegance Cabin” and with In-Flight Entertainment (IFE). The 8 new ATRs will also feature state-of-the-art technological innovations in the field of communications and navigation aid tools. The deliveries of these aircraft are scheduled for 2008 and 2009.
Lonrho’s Fly540, is developing an expanding aviation network across Africa, providing much needed air transportation at international standards of comfort and service. Fly540 will be operating in eight African countries by early in 2008 and these new aircraft will allow the airline to continue its rapid expansion to develop its network linking African countries with quality regional service.
Commenting on the deal, Lonrho’s Chairman David Lenigas, stated: “We are delighted that we have been able to agree on the purchase of eight new aircraft from ATR to expand our existing ATR fleet. We have been impressed with the ATRs that we currently operate. We are confident that these new ATR 72-500 aircraft will provide the lowest engine and airframe maintenance costs and fuel costs of any other aircraft in this market, whilst providing state of the art avionics and new aircraft reliability and safety. When operated on appropriate routes, it provides an excellent competitive advantage to our business”. He added: “Fly540 is developing the first true pan African airline, flying both East to West and North to South and I am delighted that ATR, as a leading world manufacturer, has become a strategic part of this exciting growth story.”
Stéphane Mayer, ATR CEO underlined that “the ATR 72-500 features exceptional operational economics when compared to similar sized turboprop and jet competitors. On typical regional sectors of 200 Nautical miles, ATR 72 operating costs are up to 40% lower than a similar sized regional jet”. And added: “The ATR aircraft are optimally adapted to the hot conditions of the African operations, while playing an important role in the improvement of the air connectivity of the regional airports. This represents a solid contribution to the growth of the economy and the strengthening of the human links.”
The –500 series ATRs:
With its ATR 42-500 and ATR 72-500, ATR supplies state-of-the-art aircraft with the highest standards of comfort. The advanced six-blade propeller provides remarkably low noise levels. Low fuel burn and gaseous emissions contribute to make the ATR environment friendly. All ATR models are compliant with noise regulations and have a large margin with regard to Chapter IV (ICAO) noise regulations, effective 1st January 2006.
About Lonrho:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company is listed on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services and natural resources. The Company has over 20,000 shareholders and substantial institutional backing to support its mandate to build a profitable business that plays a fundamental role in the development of the African economy.
About ATR
Toulouse, Southern France-based regional aircraft manufacturer ATR is the world leader in the 50 to 74-seat turboprop market. ATR forecasts revenues of around US$1 Billion in 2007, representing two successive years of 30% increase in turnover. ATR is an equal partnership between Alenia Aeronautica (Finmeccanica group) and EADS. ATR is certified NF EN ISO 9001:2000 and AS 9100 revision B:2004 / JIS Q 9100:2004 / EN 9100:2003, the worldwide quality standard in the field of aeronautics.
Contact
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