Avation has leased one Pratt & Whitney Canada PW127M engine to Mexican regional operator Aeromar Airlines.
The Singapore-based lessor announced its entry into engine leasing last month, having added the powerplant to its inventory.
This will support Aeromar’s fleet of 10 ATR aircraft serving 25 routes from Mexico City, it says in a stock exchange disclosure.
Executive chairman Jeff Chatfield adds: “Engine leasing is a new business initiative which we are exploring. We and also our airline clients occasionally lease engines when needed, we see this is a valued-added business line which certain airline clients may find useful.”
PW127M engines power ATR 42-500, 72-500 and 72-600 turboprops. Cirium schedules data shows Avation leases 22 ATR 72-600s and six 72-500s to 10 clients, though Aeromar is not one of them.
Chatfield tells Cirium that the lease tenor to Aeromar Airlines is 18 months.
He adds that Avation bought the PW127M with cash from the secondary market and has plans to lease CFM International CFM56-5 and CFM56-7 engines. These power Airbus A320 family and Boeing 737NG family aircraft, respectively.