SALE OF AIRCRAFT FROM ORDERBOOK

Avation PLC

25 November 2024

 

Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

SALE OF AIRCRAFT FROM ORDERBOOK

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, is pleased to announce the concurrent delivery and sale of a new ATR 72-600 aircraft. This aircraft is new ex-factory Toulouse and is the first of a series of two sold to an airline in the Caribbean region.  The profitable sale of this aircraft releases around US$5 million in cash which will primarily be reinvested into pre-delivery payment instalments for the Company's order for ten ATR 72-600 aircraft which was announced in May 2024. 

Jeff Chatfield, Executive Chairman of Avation PLC, said: "The Company is pleased to have closed this profitable sale, which is a further demonstration of the continued strength in the market for ATR turboprop aircraft. Avation is primarily an aircraft operating lessor but was willing to sell this aircraft, in this instance, due to the attractive economics of the transaction."

-ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive Chairman                                      [phone]

Avation welcomes shareholder questions and comments and advises the email address for questions is: [e-mail] and the Company provides an investor Q & A during the conference call associated with release of results. The head office telephone number is [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 is available at www.avation.net.

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