Acquisition of Commercial Aircraft

RNS Number : 6006F

Avation PLC

28 July 2016

 

AVATION PLC

("Avation" or "the Company")

SECOND NEW AIRBUS DELIVERED TO VIETJET

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company announces the successful purchase and delivery of a factory-new Airbus A321-200 aircraft (the "Airbus") to Vietjet, the leading domestic and international new-age carrier of Vietnam. This aircraft is the second in a series of new A321 deliveries direct from the Airbus production facility in Hamburg, Germany.

The long duration operating lease terms are typical for an aircraft of this type. The Company has secured an asset backed senior debt facility to support the purchase. The aircraft was delivered on schedule.

The Airbus is equipped with CFM International CFM56-5B3/3 engines, with cabin seating for 230 passengers; the highest seat density configuration for an Airbus A321. It will be employed by Vietjet on its expanding route network of domestic and international destinations from multiple bases in Vietnam.

The Company's Chairman, Jeff Chatfield commented that "Avation remains delighted that Vietjet selected Avation to provide a series of aircraft after a rigorous selection process. We are now delighted to be delivering the second in the series of new aircraft to Vietjet. The addition of this aircraft brings Avation's fleet to 39."

-ENDS-

More information on Avation can be seen at: www.avation.net

Enquiries:

Avation Jeff Chatfield, Executive Chairman

T: [phone]

Notes to Editors:

Avation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turbo prop aircraft which it leases to airlines across the world. The Company's customers include Vietjet, Thomas Cook, Air France, Condor, Air Berlin, Flybe, Scandinavian Airlines, Air India, Virgin Australia, Fiji Airways and UNI Air.  

Avation is the second largest lessor customer of ATR aircraft globally and the Company is one of a small number of aircraft lessors which have both a sales contract and option positions with ATR. ATR 72 aircraft command approximately 80% - 85% of the current world's 70-seat turboprop market sales.

www.avation.net

Vietjet is the first airline in Vietnam to operate as a new-age airline with low-cost and diversified services to meet customers' demands. It provides not only transport services but also uses the latest e-commerce technologies to offer various products and services for consumers.

Currently, the airline boasts a fleet of 40 aircraft, including A320s and A321s, and operates 300 flights each day. It has already opened 53 routes in Vietnam and across the region to international destinations such as Thailand, Singapore, South Korea, Taiwan, China and Myanmar. It has carried nearly 25 million passengers to date.

www.vietjetair.com

 

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