Business
Acquisition and leasing of elenth aircraft
Acquisition and leasing of elenth aircraft.
About this update from Avation Plc
[{"type":"text","content":"\n \n\n 18 AUGUST 2008\n\n AVATION PLC\n ('AVATION' OR THE 'COMPANY')\n\n PURCHASE OF ELEVENTH AIRCRAFT TAKES AVIATION GROUP TO THE NEXT LEVEL\n\nThe Board of Avation, the PLUS-quoted owner of commercial jet aircraft, is pleased to announce that it\nhas increased its fleet further with the purchase of a Fokker F100 Aircraft.\n\nAvation has agreed to pay US $6.4m for the aircraft, which it will lease out to Skywest Airlines Pty\nLtd at a rate of $106,000 per month plus maintenance reserves for 64 months.\n\nAvation now has a fleet of five Fokker F100 aircraft owned by the Company and its 100% owned\nsubsidiaries. The Company continues to grow its international presence through its 52% owned\nsubsidiary, AIM quoted Capital Lease Aviation (\"CLA\"), which currently owns three Fokker F100's, an\nAirbus A320 and two Airbus A321 aircraft. This takes the total fleet to 11 aircraft on long term\ncommercial leases to a range of operators in Europe, the US and Australia.\n\nThe Company has financed the acquisition from its own funds and the finance facility announced on 11\nAugust 2008.\n\nAvation's Chairman, Jeff Chatfield said: \"We are very content to have lined up our first XI and look\nforward to being recognised as significant players in the future. The purchase of a fifth Fokker 100\nAircraft for Avation takes Avation and its wholly and part-owned subsidiaries up to a fleet of 11\naircraft on long term leases with operators across the globe This is a clear demonstration of the\ngrowth Avation has achieved since admission to PLUS Markets in November 2006.\n\n\"As a group we continue to prove our ability to source both finance and aircraft on attractive terms\neven in current markets.\"\n\n The directors take responsibility for the contents of this announcement.\n\n ---ENDS---\nEnquiries:\nAvation PLC 07783 942\n553\nJeff Chatfield, Chairman\n\nAdvisor 0207 628\n1128\nFrank Lucas, Loeb Aron & Company\n\nMedia 0207 562\n3350\nMaxine Barnes, Nick Rome, Nick Farmer\nBishopsgate Communications\n\nWebsite: www.avation.net\n\nAvation plc\n\n\t\t\t\t\t\t \n ","length":2774,"tagName":"div"}]