Avation PLC REPAYMENT OF ECA LOANS (8173K)
September 07 2021 - 1:00AM
UK Regulatory
TIDMAVAP
RNS Number : 8173K
Avation PLC
07 September 2021
Via RNS and SGXNET
AVATION PLC
("Avation" or "the Company")
REPAYMENT OF ECA LOANS
Avation PLC (LSE: AVAP), the commercial passenger aircraft
leasing company, advises that it has successfully repaid the
outstanding export credit agency insured loans associated with
eight of the ATR 72 aircraft that were previously on lease to
Virgin Australia Airlines. The loans have been repaid using a
combination of the release of deposits held by the ECAs and a new
commercial bank financing package backed by the recently announced
leases of three ATR 72 aircraft to Hevilift.
Avation's Executive Chairman, Jeff Chatfield said: "The export
credit loans associated with the Virgin Australian aircraft have
now been refinanced and retired. It is pleasing that commercial
bank aircraft lending appears to be reopening following the
disruption caused by COVID-19".
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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