Island Aviation Service Ltd. (IASL) is seeking a financing partner to lease three ATR aircraft, aiming to expand the operations of the national carrier, Maldivian. The move is part of IASL’s strategic expansion plan, and the company is now inviting proposals from interested parties.
According to IASL’s Request for Proposal (RFP), it is seeking a partner to finance the lease of three new ATR 600-42 aircraft from the Franco-Italian manufacturer, under a proposed 15-year pay-as-you-go arrangement. IASL, the operator of Maldivian, has already finalised an agreement with ATR for the acquisition of these aircraft.
While Maldivian signed a deal to acquire two ATR aircraft in February as part of its domestic fleet expansion, it also placed an order for two ATR 42-600 aircraft in October 2023.