AIRCRAFT REPOSSESSION AND REMARKETING

RNS Number : 2964N

Avation PLC

23 September 2019

 

  AVATION PLC

("Avation" or "the Company")

AIRCRAFT REPOSSESSION AND REMARKETING

The Board of Avation PLC (LSE: AVAP), is aware of the announcements concerning the compulsory liquidation of Thomas Cook Group plc. The Company has two Airbus A321 aircraft with Thomas Cook plc. Avation has issued default notices and will as quickly as possible repossess the two aircraft along with their aircraft records. The Company has a remarketing plan and intends to remarket the aircraft in the ordinary course of business, the aircraft are of a popular type and are relatively new.  The Company holds letters of credit as security for rent deposits and maintenance obligations in relation to the two aircraft.  The Company will evaluate any impact on its business, however, at this time does not anticipate any material impact on operations.

-ENDS-

Enquiries:

Avation Jeff Chatfield, Executive Chairman

T: [phone]

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 can be seen at: www.avation.net

 

END

 

 

STRPGUAGBUPBGUW