REG - Avation PLC - SALE OF TWO AIRCRAFT AND ANALYST QUESTION

AvationAnnouncement

22/12/2022 07:00

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RNS Number : 5949K  Avation PLC  22 December 2022

 Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

SALE OF TWO ATR AIRCRAFT AND RESPONSE TO ANALYST QUESTION

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company
advises that it has completed the sale of two ATR72-600 aircraft to an airline
related customer. These aircraft were previously leased to Loganair, the
progress of which transaction has been announced during the course of this
year.

Jeff Chatfield, Executive Chairman said "Avation is pleased to have completed
the sale and delivery of these two ATR72-600 aircraft, at this stage we have
transitioned to new airlines or sold almost all of our Covid-19 related
inventory of aircraft on ground."

Response to Analyst Question

In response to an analyst's question, the Company advises that, on a monthly
basis, it currently invoices in excess of US$3 million of cash maintenance
reserve charges.  Avation currently collects cash maintenance reserves from
27 leased aircraft.  Cash maintenance reserves provide security for major
aircraft maintenance events, they are not recognized as revenue.

 

-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
62522077.

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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