| Wed 6 Feb 2008, 15:03 | | LAF - Lonrho Acquires A Further Two New Atr 72-500 Aircraft For Delivery In 2010 |
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LAF
LOLAF
LAF - Lonrho Acquires A Further Two New Atr 72-500 Aircraft For Delivery In 2010
To Meet Projected Requirements For Growth Of Its Fly540 African Airline
Lonrho Plc
(Formerly Lonrho Africa Plc)
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho Africa" or "the Company")
LONRHO ACQUIRES A FURTHER TWO NEW ATR 72-500 AIRCRAFT FOR DELIVERY IN 2010 TO
MEET PROJECTED REQUIREMENTS FOR GROWTH OF ITS FLY540 AFRICAN AIRLINE
Lonrho (AIM: LONR), the expanding conglomerate with a structured portfolio of
African investments, is pleased to announce that it`s wholly owned subsidiary,
Lonrho Air (BVI) has signed an agreement with ATR to purchase a further two
new, ATR 72-500 aircraft.
This second order comes one month after Lonrho signed an agreement with ATR for
8 new aircraft to be delivered in 2008 and 2009. The aircraft will be deployed
by Lonrho`s African airline, Fly540, and will be configured with 54 seats in
economy and 12 in first class.
Lonrho`s wholly owned subsidiary, Fly540 Africa, is on course to develop its
aviation network across Africa, providing much needed international standard
aircraft and services. Fly540 management believe the ATR 72-500 to be the ideal
aircraft for its pan African operation, providing the latest technology,
combined with excellent reliability and unparalleled fuel economy. The lead time
for new aircraft from many manufacturers, including ATR, is three to four years,
and Lonrho is delighted that ATR`s support and commitment in the roll out of
Lonrho Air has facilitated meeting Fly540`s requirements for 2008, 2009 and
2010.
As with the previous order, 85% of the cost is expected to be financed over a
fifteen year lease agreement backed by a COFACE French Government Guarantee,
with the 15% deposit payable in instalments up until delivery in 2010.
Fly 540 will be flying in eight African countries in 2008 and the new aircraft
will provide the ability for the airline to continue its expansion plans to link
African countries with a quality airline that flies East to West and North to
South.
The ATR 72-500 is the latest development of the reputable and long established
ATR 72. It draws from the in-service experience of more than 750 ATR aircraft
flying worldwide, with a proven average dispatch reliability of more than 99%.
The ATR 72-500 is accepted as the most profitable way to transport passengers on
short-haul sectors and the aircraft provides the lowest seat-mile costs in this
market.
The ATR 72-500 features exceptional operational economics when compared to
similar sized turboprop and jet competitors. On typical regional sectors of 200
Nautical miles, ATR 72 operating costs are up to 40% more economic than a
similar sized regional jet.
David Lenigas, Lonrho`s Chairman stated :
" We are delighted that we have been able to agree the purchase of a further two
new aircraft from ATR which takes the Fly540 fleet to twelve ATR`s.
In conjunction with the roll out of the regional jets to be utilised by Fly540,
this aircraft combination allows Fly540 to offer the best standards of customer
service and safety at the most economical rates. Modern aircraft and
international standards are desperately needed in the African airline sector,
and by forward planning with key manufacturers such as ATR, Lonrho can ensure
that it can deliver both, and over time, provide much needed international
standard aviation services to connect Africa".
ENQUIRIES
Lonrho Plc +44 (0)20 7016 5105
David Lenigas, Executive Chairman +44 (0)7881 825 378
Geoffrey White, Chief Executive Officer +44 (0)7717 307 308
Emma Priestley, Executive Director +44 (0)7867 785 177
Pelham PR
Charles Vivian +44 (0) 20 7743 6672
+44 (0) 7977 297903
Alisdair Haythornthwaite +44 (0) 20 7743 6676
+44 (0) 7714 721379
Collins Stewart Europe : NOMAD to Lonrho
Hugh Field /Jonny Sloan +44 (0) 20 7523 8350
NOTES TO EDITORS
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful
business throughout Africa. The Company is listed on the London AIM stock
exchange (LONR). Lonrho is strategically focused on the development of business
opportunities in infrastructure, transportation, support services and natural
resources. The Company has over 20,000 shareholders and substantial
institutional backing to support its mandate to build a profitable business that
plays a fundamental role in the development of the African economy.
Since 2006, the Company has invested in or acquired control of:
Hotel Cardoso - www.hotelcardoso.co.mz
Lonrho Mining - www.lonrhomining.com
Luba Freeport - www.lubafreeport.com
Fly540 - www.fly540.com
Norse Air - www.norseair.co.za
Swissta Holdings - www.swissta.com
SA Independent Liner Services - www.saliners.com
Bytes and Pieces
Celsys Limited - www.celsys.co.zw
Kwikbuild - www.kwikbuild.co.za
6 February 2008
South African sponsor to Lonrho Africa Plc
Java Capital (Proprietary) Limited
Date: 06/02/2008 15:03:02 Produced by the JSE SENS Department.
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