REG - Avation PLC - NEW AIRLINE CUSTOMER

AvationAnnouncement

02/03/2023 07:16

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230302:nRSB6485Ra&default-theme=true

RNS Number : 6485R  Avation PLC  02 March 2023

Via RNS and SGXNET

 

 

AVATION PLC

("Avation" or "the Company")

 

NEW AIRLINE CUSTOMER

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, is
pleased to announce that it has signed a lease agreement with a new airline
customer in the Pacific region. The lease is for an ATR 72-600 aircraft that
was repossessed in August 2022, following the default of an airline in
Myanmar.  The aircraft is due to be delivered to the new customer for a lease
term of 24 months.  This transition reduces the number of off-lease aircraft
in Avation's fleet from three to two.

Avation's Executive Chairman, Jeff Chatfield said: "We are pleased to place
this aircraft on lease to a new customer. Delivery will occur in the next few
weeks. The management remains confident of placing or selling the two
remaining unutilised aircraft before 30 June 2023."

 

 

- 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 (mailto: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) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGRUURBROUUORRR