RESPONSE TO ANALYST QUESTION

RNS Number : 3216K

Avation PLC

21 April 2020

 

Via RNS and SGXNET  

AVATION PLC

("AVAP" or "the Company")

63% OF AVATION'S FLEET IS USED FOR DOMESTIC OR REGIONAL OPERATIONS

SINGAPORE - 21 APRIL 2020 - Avation PLC (LSE: AVAP) - the commercial passenger aircraft leasing company provides the following announcement in response to a question from an analyst.

The Company is a lessor of commercial aircraft, with a total of 48 aircraft and one engine on lease to airlines in Europe, Latin America, Asia-Pacific and Australia. Many of these airlines have had their operations materially impacted by government decrees limiting movement in response to the COVID-19 pandemic.

The Company advises that among the 48 aircraft fleet that the Company owns, 63% of the fleet operates purely on domestic or regional routes. This is mainly driven by the lessor's strategy to own turboprop aircraft.

Avation's management is of the opinion that domestic and regional air travel will be the first sector to recover from the movement restrictions and resulting reduction in demand for air travel caused by the COVID-19 pandemic, earlier than long-haul international travel. 

Forward Looking Statements

This announcement and other information published by Avation may contain statements about Avation that are or may be deemed to be forward looking statements. Such statements are prospective in nature. All statements other than historical statements of facts may be forward looking statements. Without limitation, statements containing the words "targets", "plans", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "estimates", "projects" or "considers" or other similar words may be forward looking statements. Forward looking statements inherently contain risks and uncertainties as they relate to events or circumstances in the future. Important factors such as business or economic cycles, the terms and conditions of Avation's financing arrangements, tax rates, or increased competition may cause Avation's actual financial results, performance or achievements to differ materially from any forward looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward looking statements, which speak only as of the date hereof. Avation disclaims any obligation to update any forward looking or other statements contained herein, except as required by applicable law.

  -ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive Chairman  [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 airlines around the world.

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

 

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