Acquisition of Commercial Aircraft

RNS Number : 6318T

Avation PLC

31 March 2016

 

AVATION PLC

("Avation" or "the Company")

DELIVERY OF NEW AIRBUS A321

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company announces the successful completion of the delivery of a second of a series of new Airbus A321-200 aircraft to Thomas Cook Airlines Limited.  The aircraft was delivered at the Airbus manufacturing facility in Hamburg, Germany.

The lease is a 12 year operating lease and the terms are typical for a new delivery aircraft of this type. The Company has entered into an asset-backed senior debt facility, with an existing lender in order to finance the acquisition of this aircraft. The aircraft is an Airbus A321-200 equipped with CFM International CFM56-5B3/3 engines, seating 220 passengers. It will be operated by Thomas Cook Airlines Limited. Thomas Cook Airlines Limited is part of Thomas Cook Group Airlines and serves international destinations from multiple bases in Europe.

The Company's Executive Chairman, Jeff Chatfield commented that "Avation is pleased to deliver this second new Airbus A321 to Thomas Cook Airlines Limited, fulfilling a contract for the lease of two new aircraft. The Company has been a lessor to Thomas Cook for nine years and we are grateful for their continued confidence. We are also pleased to be taking delivery of our second factory-new aircraft from Airbus."

-ENDS-

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

Enquiries:

Avation Jeff Chatfield, Executive Chairman

T: [phone]

Notes to Editors:

Avation PLC

Avation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turbo prop aircraft which it leases to airlines across the world. The Company's customers include Thomas Cook, Air France, Condor, Air Berlin, Virgin Australia, Fiji Airways and UNI Air.  

Avation is the second largest lessor customer of ATR aircraft globally and the Company is one of a small number of aircraft lessors which have both a sales contract and option positions with ATR. ATR 72 aircraft command approximately 80% - 85% of the current world's 70-seat turboprop market sales.

www.avation.net

 

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