Avation PLC SALE OF AIRBUS A220 AIRCRAFT (7176J)
August 25 2021 - 1:00AM
UK Regulatory
TIDMAVAP
RNS Number : 7176J
Avation PLC
25 August 2021
Via RNS and SGXNET
AVATION PLC
("Avation" or "the Company")
SALE OF AIRBUS A220 AIRCRAFT
Avation PLC (LSE: AVAP), the commercial passenger aircraft
leasing company, is pleased to announce that it has entered into an
agreement for the sale, at a price that realises a gain, of an
Airbus A220-300 aircraft with manufacturer serial number 55034. The
aircraft is currently on lease to Latvian carrier airBaltic and is
one of six aircraft which Avation currently owns and leases to the
airline.
The sale and purchase agreement is subject to typical conditions
precedent with the transaction expected to close during the course
of September.
Avation's Executive Chairman, Jeff Chatfield said: "We are
pleased to sign this sale agreement. The transaction demonstrates
that the secondary market in the latest technology single aisle
aircraft is robust and active. It appears that valuations are
improving in this segment for high quality airline credits such as
airBaltic. The rationale for the sale, from Avation's perspective,
is portfolio management and to increase liquidity."
ENDS -
Enquiries:
Avation PLC - Jeff Chatfield, Executive Chairman +65 6252 2077
Avation welcomes shareholder questions and comments and advises
the email address is: investor@avation.net
Notes to Editors:
Avation PLC is an aircraft leasing company, headquartered in
Singapore, owning and managing a fleet of commercial passenger
aircraft which it leases to airlines around the world. More
information on Avation is available at www.avation.net .
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END
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