Business
Acquisition and Finance of Aircraft
Acquisition and Finance of Aircraft.
About this update from Avation Plc
[{"type":"text","content":"\n \n\n April 8, 2010\n\n AVATION PLC\n (\"AVATION\" or \"THE COMPANY\")\n\n ACQUISITION AND FINANCE OF AIRCRAFT\n\nThe Company is pleased to announce that it has completed acceptance for one Airbus A320-200\naircraft. The completion occurred pursuant to the Announcement made on the 8th of January 2010.\n\nThe aircraft has been successfully leased to Skywest Airlines Pty Ltd and is enroute from the UK\nto Australia to enter service. The lease terms for the aircraft are USD $190,000 per month with an\ninitial term of 36 months.\n\nThe Company has paid all deposits and is enjoying a finance lease in respect to the aircraft with\nvendor finance of USD 7.8m in respect of the remaining balance of USD $8.6m and anticipates paying\nfor the aircraft in full in the ordinary course of business.\n\nChairman Jeff Chatfield said \"We are pleased to have the opportunity to obtain this aircraft on\nattractive finance terms to us in strengthening the Company's balance sheet further and broadening\nour fleet\"\n\nThe Directors take responsibility for the contents of this announcement.\n\n ---ENDS---\n\nENQUIRES:\n\nAVATION PLC 07783 942 553\nJeff Chatfield, Chairman\n\nADVISOR 020 7628 1128\nDr Frank Lucas, Loeb Aron & Company\n\nMEDIA 020 7562 3350\nNick Rome, Will Tindall\nBishopsgate Communications\n\nAvation plc\t\t\t\t\t\t\t\t\n\n\t\t\t\t\t\t \n ","length":1769,"tagName":"div"}]