REG - Avation PLC - RENEWAL OF SINGAPORE TAX INCENTIVE

AvationAnnouncement

28/08/2024 07:01

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RNS Number : 8637B  Avation PLC  28 August 2024

Via RNS and SGXNET

 

AVATION PLC

("Avation" or "the Company")

RENEWAL OF SINGAPORE TAX INCENTIVE

 

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company,
announces that its main operating subsidiaries have been granted a further
five year tax incentive in Singapore under the Aircraft Leasing Scheme.

 

Avation's headquarters are in Singapore and the majority of the group's
operations will benefit from this tax incentive, subject to meeting applicable
terms and conditions. The Aircraft Leasing Scheme provides for a concessionary
8.0% tax rate on income derived from aircraft and aircraft engine leasing and
exemption from withholding tax on qualifying loans.  The incentive covers the
period from 17 April 2024 to 16 April 2029.

 

Avation's Executive Chairman, Jeff Chatfield, said: "We are pleased to have
successfully renewed our membership of Singapore's Aircraft Leasing Scheme
which provides substantial benefits to the group."

 

-ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive
Chairman
+65 6252 2077

Avation welcomes shareholder questions and comments and advises the email
address for questions is: investor@avation.net (mailto:investor@avation.net)
and the Company provides an investor Q & A during the conference call
associated with release of results. The head office telephone number is +65
6252 2077.

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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