Business
Acquisition of Airbus A320-200 Aircraft
Acquisition of Airbus A320-200 Aircraft.
About this update from Avation Plc
[{"type":"text","content":"\n \n\n19 April 2013\n AVATION PLC\n (\"Avation\" or the \"Company\")\n\n Acquisition of Airbus A320-200 Aircraft\n\nAvation PLC (LSE: AVAP), the commercial passenger aircraft leasing company is pleased to announce that it\nhas entered into an agreement to acquire an additional Airbus A320-200 aircraft.\n\nThe aircraft will be leased by the Company to an Australian carrier for a period of 61 months. The aircraft\nwas acquired from another lessor. The Avation Group's fleet now stands at a total of 21 commercial\npassenger aircraft of which five aircraft are Airbus A320 series aircraft.\n\nJeff Chatfield, Executive Chairman of Avation, commented:\n\n\"This acquisition is in line with the Company's strategy of pursuing newer aircraft and reducing its asset\nexposure for not-in-production aircraft, such as Fokker 100s, which now stand at below 10 per cent of the\noverall book value of Avation's fleet. The average age of the Company's aircraft fleet is now 8.7 years.\"\n\n Information on Avation PLC can be found at www.avation.net\n\nEnquiries:\n\nAvation Plc\nJeff Chatfield, Executive Chairman +65 9735 4151\n\nBlythe Weigh Communications\nTim Blythe, Robert Kellner + 44 (0) 207 138 3204\n\nLiberum Capital Limited\nChris Bowman / Richard Bootle +44 203 100 2222\n\nW H Ireland Limited\nJames Joyce +44 207 220 1666\n\nAbout Avation\nAvation was formed in 2006 initially to support Skywest Airlines (Australia) Pty Ltd. and was admitted to\nthe Standard segment of the Official List of the London Stock Exchange in October 2010. The Company's main\nactivity is an operating lessor of commercial passenger aircraft to airlines across Europe, the US and\nAustralia. Early in 2011 the company entered into an agreement with Skywest Airlines to provide a fleet of\nup to eighteen new aircraft to operate along the East Coast of Australia on behalf of Virgin Australia.\n\nAvation plc\n ","length":2228,"tagName":"div"}]