REG - Avation PLC - Acquisition

AvationAnnouncement

25/02/2025 07:30

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RNS Number : 3515Y  Avation PLC  25 February 2025

 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 (http://www.avation.net) .

 

 

 

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