REG - Avation PLC - SALE COMPLETION OF BOEING 777 AIRCRAFT

AvationAnnouncement

Yesterday 11:00

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RNS Number : 6124Y  Avation PLC  09 September 2025

Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

 

SALE COMPLETION OF BOEING 777 AIRCRAFT

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company,
announces that, further to the announcement made on 11 June 2025, it has now
completed the sale of one Boeing B777-300ER with manufacturer serial number
61735, currently on lease to Philippine Airlines.

The decision to divest the asset was made earlier in the year to tap into the
favourable market conditions for a sale. The sale of the aircraft has
generated a material profit above book value. The cash released after the
completion of this transaction is material.

Avation's Executive Chairman, Jeff Chatfield said: "We are pleased to conclude
this sale for risk reduction and portfolio management purposes. This aircraft
type is an out of production aircraft and it is prudent to trade the aircraft
in these market conditions. We aim to reduce debt and opportunistically
re-invest the cash proceeds from this transaction into narrowbody asset
types."

-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 a commercial passenger aircraft leasing company, headquartered
in Singapore, owning and managing a fleet of widebody, narrowbody jet and
turboprop aircraft which it leases to airlines across the world. The Company's
customers include 15 commercial airlines in 14 countries. Avation's fleet of
aircraft is currently fully leased and utilised. The Company is listed on the
London Stock Exchange with ticker AVAP.L, more information on Avation is
available at www.avation.net.

 

 

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