Avation PLC SALE OF TWO AIRCRAFT AND ANALYST QUESTION (5949K)
December 22 2022 - 1:00AM
UK Regulatory
TIDMAVAP
RNS Number : 5949K
Avation PLC
22 December 2022
Via RNS and SGXNET
AVATION PLC
("Avation" or "the Company")
SALE OF TWO ATR AIRCRAFT AND RESPONSE TO ANALYST QUESTION
Avation PLC (LSE: AVAP), the commercial passenger aircraft
leasing company advises that it has completed the sale of two
ATR72-600 aircraft to an airline related customer. These aircraft
were previously leased to Loganair, the progress of which
transaction has been announced during the course of this year.
Jeff Chatfield, Executive Chairman said "Avation is pleased to
have completed the sale and delivery of these two ATR72-600
aircraft, at this stage we have transitioned to new airlines or
sold almost all of our Covid-19 related inventory of aircraft on
ground."
Response to Analyst Question
In response to an analyst's question, the Company advises that,
on a monthly basis, it currently invoices in excess of US$3 million
of cash maintenance reserve charges. Avation currently collects
cash maintenance reserves from 27 leased aircraft. Cash maintenance
reserves provide security for major aircraft maintenance events,
they are not recognized as revenue.
-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 62522077.
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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