SALE COMPLETION OF BOEING 777 AIRCRAFT
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AVATION PLC
("Avation" or "the Company")
SALE COMPLETION OF BOEING 777 AIRCRAFT
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that, further to the announcement made on 11 June 2025, it has now completed the sale of one Boeing B777-300ER with manufacturer serial number 61735, currently on lease to Philippine Airlines.
The decision to divest the asset was made earlier in the year to tap into the favourable market conditions for a sale. The sale of the aircraft has generated a material profit above book value. The cash released after the completion of this transaction is material.
Avation's Executive Chairman, Jeff Chatfield said: "We are pleased to conclude this sale for risk reduction and portfolio management purposes. This aircraft type is an out of production aircraft and it is prudent to trade the aircraft in these market conditions. We aim to reduce debt and opportunistically re-invest the cash proceeds from this transaction into narrowbody asset types."
-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 and the Company provides an investor Q & A during the conference call associated with release of results. The head office telephone number is +65 6252 2077.
Notes to Editors:
Avation PLC is a commercial passenger aircraft leasing company, headquartered in Singapore, owning and managing a fleet of widebody, narrowbody jet and turboprop aircraft which it leases to airlines across the world. The Company's customers include 15 commercial airlines in 14 countries. Avation's fleet of aircraft is currently fully leased and utilised. The Company is listed on the London Stock Exchange with ticker AVAP.L, more information on Avation is available at www.avation.net.
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