ATR Asset Management portfolio hits record low

This story is sourced from Pro
See more Pro news »

ATR Asset Management will end 2013 with fewer than five aircraft in its portfolio.

The airframer's asset management arm transferred titles on a total of 11 ATR aircraft last year, compared with 19 transactions in 2011.

ATR senior vice-president, commercial, Jacques Desbarats says: "Our 11-aircraft portfolio mainly consists of ATR 72 models. We have three aircraft coming off financial leases already committed while another four aircraft have sale agreements in place during the first quarter.

"This will leave us with four aircraft in our portfolio: two with Brazil's Passadero and another two with Islas Airways of Spain."

Speaking at a Toulouse event, Desbarats says that during 2012, a total of 13 aircraft were traded back to ATR. Seven ATR 72-500s were handed back by Azul as the Brazilian regional carrier switched to the newer -600 model.

A further five older ATR 72s were traded back by Air Nostrum, which also switched to the -600 model. The last aircraft was an ATR 42-500 coming back from India's Alliance Air.

ATR recorded five cash sales in 2012 with three ex-Azul aircraft sold to Overland Airways. Another two aircraft were sold to Nordic Aviation Capital.

The remaining six aircraft were placed with Czech Airlines, Buddha Air, Solenta and BQB Airlines.

Despite no trade-in activity planned for 2013, Desbarats is confident the asset management activity can cope with additional aircraft. "We have capacity for about 10 aircraft in addition to the four left in our portfolio," he says.