Etihad Regional to Lease Four ATR 72-500s

Etihad Regional has signed a multi-million dollar agreement to lease four ATR 72-500 aircraft, which will see the carrier boost its regional fleet to 12 and support its rapidly expanding network.

All four aircraft are scheduled for delivery between April and June 2014, with the first touching down at Geneva International Airport on 1 April.

Etihad Regional will configure each aircraft with 68 seats.

The lease of the aircraft was arranged by Nordic Aviation Capital (NAC), the world's largest turboprop leasing company headquartered in Billund, Denmark.

ATR's Chief Executive Officer, Filippo Bagnato.

Maurizio Merlo, Chief Executive Officer of Etihad Regional said, “Today's announcement marks the beginning of our new fleet expansion program. It is part of our strategy of matching our growing network and frequency requirements with the right aircraft. Choosing ATR for this transaction is a logical step. The ATR aircraft have the lowest seat-mile costs in their class, are ideally suited for regional operations, can operate in all-weather types, and have relatively low engine and airframe maintenance costs. The ATR 72-500s are not only known for their reliability and technology but are also the top-selling turboprop aircraft on the market.”

Filippo Bagnato, Chief Executive Officer of ATR said, “We are delighted that Etihad Regional has chosen ATR and we are excited to help support the carrier's growth plans. With ATR 72-500, Etihad Regional will operate modern aircraft which not only offer high economic efficiency and exceptional passenger comfort, but also have minimal impact on the environment.”

Etihad Regional has already commenced crew recruitment for the four ATR 72-500s, and expects to hire a total of 40 cabin crew members to operate the new fleet type.

The airline is also hiring 16 captains and 16 first-officers, bringing the airline's total pilot count to 115.