MARKET UPDATE

RNS Number : 5581U

Avation PLC

08 April 2016

 

AVATION PLC

("Avation" or "the Company")

MARKET UPDATE

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company announces certain aircraft fleet metrics. These general information metrics are calculated by management as at 31 March 2016 and are unaudited.

Date	31 December 2015	31 March 2016
Aircraft in Fleet	33	37
Aircraft fleet age (weighted average)	5.2 years	4.5 years
Remaining lease term (weighted average)	5.7 years	6.7 years
Fleet Utilisation	100%	100%

The Company's Executive Chairman, Jeff Chatfield, said:  "The Company has delivered a series of brand new aircraft to airlines during 2016; these aircraft have added scale and also improved the age and lease term metrics. The weighted average age of the fleet has been reduced to 4.5 years with remaining weighted average lease term increasing to 6.7 years."

-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 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

 

END

 

 

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