Silver Airways signs LoI for up to 50 ATR aircraft

Silver Airways signed (01-Aug-2017) a letter of intent to renew and expand its fleet with up to 50 new ATR 600 series aircraft, valued at approximately USD1.1 billion. The LoI includes a firm order for 20 ATR 42-600 aircraft, with an option to upgauge to 72-600 aircraft. Silver will fund the firm order for 20 aircraft through lease financing. Silver will take delivery of up to four ATRs in 2017, beginning 4Q2017, following receipt of regulatory approvals. Remaining deliveries of the first 20 aircraft are expected to be completed by 1Q2020. ATR will conduct crew training at its new training facility in Miami. The new aircraft will replace Silver's existing fleet of 21 Saab 340B Plus turboprop aircraft over time. President and CFO Jason Bewley said the aircraft will allow the carrier to expand its network with greater reach, including further into the Caribbean and southeast US. [more - original PR]