AIRBUS A330-300 ACQUISITION

RNS Number : 2871T

Avation PLC

11 October 2017

 

AVATION PLC

("Avation" or "the Company")

  AIRBUS A330-300 ACQUISITION

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that it has agreed to acquire one Airbus A330-300. The Company has entered into a conditional agreement with another lessor to purchase the aircraft currently on long-term lease to EVA Air of Taiwan.

The acquisition of this aircraft has been agreed at market rate and is expected to be completed by the end of the fourth quarter of 2017. The Aircraft is approximately 23 months old. The purchase of this aircraft is subject to customary closing conditions including amongst other things regulatory approval of the Taiwan Civil Aviation Authority.  

Executive Chairman Jeff Chatfield said: "With the acquisition of this second twin-aisle aircraft, Avation will have progressed on our 11 year evolution from narrowbody jet lessor  into a full-service commercial aircraft lessor with turboprop, regional jet, narrowbody jet and twin-aisle aircraft in its fleet along with a suitably qualified management team."

-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 turboprop aircraft which it leases to airlines across the world. The Company's customers include Air France, Air India, Condor, Flybe, Fiji Airways, Thomas Cook, Virgin Australia, Mandarin Airlines and Vietjet Air.

 

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