Via RNS and SGXNET
AVATION PLC
("Avation" or "the
Company")
ACQUISITION OF AIRBUS A320
AIRCRAFT
Avation PLC (LSE: AVAP), the
commercial passenger aircraft leasing company Is pleased to
announce that it has entered into an agreement to
acquire an Airbus A320 on lease to Etihad
Airlines. This secondary market transaction adds a high credit
quality airline to Avation's customer list and further enhances
Avation's narrow-body aircraft fleet. The acquisition is expected
to close in March 2025, subject to the completion of customary
conditions precedent. By value more than half of Avation's fleet
are narrow-body commercial aircraft.
Avation's Executive Chairman, Jeff
Chatfield said: "We are delighted to announce this Airbus A320 CEO
aircraft acquisition today which adds a top-quality operator to
Avation's fleet, further improving revenue diversification and the
overall credit quality of our portfolio. We also note that,
as announced in our half-year results announcement issued earlier
today, the average remaining lease term from our fleet has
increased to 4.2 years at 31 December 2024. This is the first
increase in this metric since the COVID pandemic ended."
-ENDS-
Enquiries:
Avation PLC - Jeff Chatfield,
Executive
Chairman
+65 6252 2077
Avation welcomes shareholder
questions and comments and advises the email address is:
investor@avation.net
Notes to Editors: Avation PLC
is an aircraft leasing company, headquartered in Singapore, owning
and managing a fleet of commercial passenger aircraft which it
leases to airlines around the world. More information on Avation is
available at www.avation.net.
