ADVISER FOR TURBOPROP PORTFOLIO

RNS Number : 9318O

Avation PLC

11 November 2016

 

AVATION PLC

("Avation" or "the Company")

ADVISER FOR TURBOPROP PORTFOLIO

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company advises that it has appointed a financial adviser to assist in the evaluation of an expression of interest for the purchase of its current portfolio of ATR turbo prop aircraft.

The financial adviser appointed to advise the Company on the portfolio is DVB Bank SE, Singapore Branch acting through its Aviation Financial Consulting division.

Contact details:

DVB Bank SE Singapore Branch      
77 Robinson Road #30-02, Singapore 068896         
Tel [phone], Mobile [phone]   
[e-mail] 

DVB Bank SE London Branch           
Park House, 16-18 Finsbury Circus, London EC2M 7EB, United Kingdom

Tel [phone], Mobile [phone]     
Kieran.O'[e-mail] 

The company will evaluate the expression of interest in due course and emphasises that discussions are at an early stage with no decision having been made. Accordingly, there is no certainty that any definitive agreement will be entered into and there is no certainty that any transaction will materialise from the current discussions.

DVB Bank SE is a leading specialist in international transport finance. As a specialised niche finance provider, DVB offers approximately 600 clients and client groups from the international transport sector a broad range of customised solutions. Leveraging this business intelligence in four transport finance divisions - Aviation Finance, Shipping Finance, Offshore Finance and Land Transport Finance - DVB supports clients in the key product areas of Structured Asset Lending, Asset Management, Risk Distribution, Corporate Finance Solutions, and Private Equity Sourcing & Investments. DVB's aviation office locations comprise: Frankfurt/Main, London, New York, Singapore and Tokyo.

The Company will make further announcements in due course as and when there are any material developments.

-ENDS-

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

Enquiries:

Avation Jeff Chatfield, Executive Chairman		T: [phone]
DVB Gilles Lim, Senior Vice President, Aviation Financial Consultancy		T: [phone]

Notes to Editors:

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

Avation is the second largest lessor customer of ATR turboprop 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.

 

END

 

 

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