Airlines PNG has made a commitment to buy six ATR 72-600 series aircraft from Avions de transport regional over the next three years.
The board when releasing the financial year report for 2014 revealed this on Friday.
The board revealed that for the first four aircraft, sale and lease back agreements have been entered into with Dubai Aerospace Enterprise, a leasing company based in Dubai.
They said that for the remaining two aircraft, management is making submissions for export credit financing through COFACE/SACHE.
COFACE/SACHE is the bank which is able to finance purchases of imported plant and equipment by funds extended by overseas banks under guarantees of national export credit agencies of exporting countries
These aircraft are scheduled to be delivered in 2017.
The group made pre-delivery payments and security deposits of K2.5 million for the six aircraft in 2014.
- See more at: http://www.pngloop.com/2015/06/14/airline-buy-6-planes/#sthash.UbZ60W0m....