COMPLETION OF PURCHASE A320 ON LEASE TO AIR FRANCE

RNS Number : 5919Z

Avation PLC

21 September 2015

 

                                                                                                         21 September 2015

AVATION PLC

("AVAP" or "the Company")

COMPLETION OF PURCHASE A320 ON LEASE TO AIR FRANCE

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that it has completed the purchase of an Airbus A320-200 on lease to Air France that was initially announced on 7 August 2015.

The aircraft was acquired from another aircraft leasing company. The aircraft is four years old and the purchase is being conducted on typical commercial terms. This A320-200 delivery brings the number of A320 "family" aircraft owned by the Avation PLC group to six aircraft.

Jeff Chatfield, Executive Chairman, said:

"We are pleased to take ownership of this A320-200 on lease to Air France, one of the world's most prestigious airlines. The Company is executing its strategy of building the portfolio, diversifying the airline customer base and the addition of this aircraft meets those criteria. On a case by case basis, provided it makes economic sense, Avation is willing to purchase aircraft from other aircraft lessors, manufacturers as well as airlines in sale and lease back transactions. Avation would like to thank all the parties involved for their speedy transaction execution."

- ENDS -

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

Enquiries:

Avation PLC - Jeff Chatfield Executive Chairman	[phone]
Blytheweigh -  Wendy Haowei                           Fergus Lane	[phone]

Notes to Editors:

This particular Airbus A320-200 is fitted with the popular CFM56-5B4 series engines and Hamilton Sundstrand APS 3200 Series auxiliary power unit. Messier Bugatti Dowty landing gears are used with Michelin tyres. The aircraft interior is configured with 178 economy class passenger seats at 29" pitch, forward and aft galley units, and two lavatories.  The Airbus A320 is in widespread use around the globe and is one of the most popular single-aisle aircraft in airline service with passengers, airlines and leasing companies alike, having sold a total of 4,773* units since the first delivery in 1988.

* Source: Airbus website

 

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