APNG to acquire ATR 72-600 aircrafts

AIRLINES PNG has sought all the necessary approvals including from its shareholders and will now proceed with its plans to acquire a total of six ATR 72-600 aircrafts.

The announcement was made by the company in its report to the market last Friday following a special meeting of shareholders on December 18.

"Airlines PNG conditionally entered an agreement with Avions de Transport Regional GIE to progressively acquire 6 ATR 72-600 on December 5, 2014.

Following approval by Airlines PNG shareholders of entry by the Company into the ATR Contract at the Special Meeting of Shareholders and final Airlines PNG Board approval to enter the ATR Contract, all conditions contained in the ATR Contract have now been satisfied.

"The Company is therefore pleased to be able to announce that it is now proceeding with this acquisition, with the first new aircraft expected to be delivered in September 2015."

APNG said the special meeting and board have also approved entry by the Company into agreements under which the first 3 ATR 72-600 aircraft to be purchased under the ATR Contract will be acquired by a highly reputable international aviation leasing company and leased by Airlines PNG on operating lease terms. The company said this investment in new aircraft is part of an ambitious fleet modernisation strategy by Airlines PNG which aims to allow the Company to expand and improve its services, while also improving its competitiveness.

"With the new robust ATR turboprops in its fleet, Airlines PNG will benefit from the aircraft’s excellent short and soft field performance operating from a range of runways. The aircraft is optimised for hot and high operations typical in PNG...," the company stated.