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REG - Avation PLC - RESPONSE TO ANALYSTS QUESTIONS

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RNS Number : 6789D  Avation PLC  04 March 2022

 

 

Via RNS and SGXNET

 

 

AVATION PLC

("Avation" or "the Company")

RESPONSE TO ANALYST QUESTIONS FROM UPDATE CALL

Avation PLC (LSE: AVAP) the commercial passenger aircraft leasing company
advises certain business developments in response to analysts' questions asked
on the Company's update call on 3 March 2022.

The Company advises that it has entered into a letter of intent to transition
one ATR 72-600 from Golden Myanmar Airlines to a new customer.

The Company further advises it has entered into a letter of intent for the
lease of one ATR 72-500, being one of the aircraft returned from Virgin
Australia Airlines, to an Asian airline.

The Company further advises it has entered into a letter of intent for the
sale of two ATR 72-600, formerly on lease to Loganair.

Each of these transactions are subject to definitive documentation and typical
closing mechanics. In due course, the Company will announce material
developments concerning these transactions.

Assuming the completion of all the above transactions, the Company will have
only three unutilised aircraft remaining from the 20 aircraft returned or
repossessed during the COVID-19 pandemic.

Avation's Executive Chairman, Jeff Chatfield said: "Avation attempted to
answer all analysts' questions during the Update Call, we were pleased with
the stakeholder engagement. Having had 20 aircraft returned or repossessed
during the Covid-19 pandemic it is pleasing to have only three remaining
aircraft to market and transition."

 

 

-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/)

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