BOEING 737-800 NG ACQUISITION

RNS Number : 3054U

Avation PLC

28 March 2019

 

AVATION PLC

("Avation" or "the Company")

BOEING 737-800 NG ACQUISITION

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces the acquisition of a Boeing 737-800 Next Generation ("NG") aircraft with CFM 56 Engines in the secondary market. The Company has entered into a conditional agreement to purchase the aircraft which is approximately 8 years old and is on operating lease to Indonesian flag carrier, Garuda Indonesia, until mid-2022.

The acquisition of the aircraft is expected to be completed in the second quarter of 2019 and is subject to closing conditions typical of a transaction of this nature.

Avation's Executive Chairman, Jeff Chatfield, said: "We are constantly looking to further diversify our aircraft portfolio and operator base. We believe that the Boeing 737-800 NG is an excellent aircraft, indeed one of the most successful and popular aircraft types ever made, with a good residual value outlook. Avation is always willing to consider attractive value acquisitions. This aircraft is the second Boeing aircraft in the Company's portfolio."

-ENDS-

Enquiries:

Avation Jeff Chatfield, Executive Chairman

T: [phone]

Avation welcomes shareholder questions and comments and advises the email address is: [e-mail] 

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 international airlines across the globe.

More information on Avation is available at www.avation.net.

 

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