Business
Acquisition of ATR72 and Airbus A321 Aircraft
Acquisition of ATR72 and Airbus A321 Aircraft.
About this update from Avation Plc
[{"type":"text","content":"\n \n\nLSE: AVAP\n\n 4 June 2013\n\n AVATION PLC\n (the \"Company\")\n\n Acquisition of ATR72 and Airbus A321 Aircraft\n\nAvation PLC (LSE: AVAP), the commercial passenger aircraft leasing company announces the acquisition of an\nadditional new ATR 72-600 series aircraft to its fleet. The aircraft was accepted by Avation on the 31st of\nMay at ATR's manufacturing facility in Toulouse, France. This is the sixth ATR 72-600 to be added to\nAvation's fleet and is the Company's twelfth new ATR 72.\n\nThis latest aircraft is leased to the Australian carrier Virgin Australia Regional Airlines, added pursuant\nto the Australian Regional Airline Network (ARAN) agreement to supply a fleet of new aircraft. The\nacquisition was financed by the Company from its existing cash resources, including senior secured debt\nprovided by an export credit agency.\n\nFurthermore, Avation's subsidiary, Capital Lease Aviation PLC (LSE: CLA), has acquired an additional Airbus\nA321 on lease to Thomas Cook subsidiary, Condor Flugdienst GmBH of Germany. The aircraft was acquired from\nanother lessor and is leased to Condor until 29 April 2018. The aircraft variant is an Airbus A321-200 with\nCFM56-5B3/P engines and was manufactured in December 2001. The aircraft is registered in Germany. This\naircraft was financed with commercial senior secured debt, which runs a term contemporaneous with the\nlease, and junior unsecured debt.\n\nAvation PLC's Executive Chairman, Jeff Chatfield said \"We are continuing our strategy of rapid fleet\nexpansion. Our overall group fleet now stands at 23 modern commercial passenger aircraft. We are pleased to\nhave a firm delivery pipeline of new aircraft until December 2014 that, based on current orders, will see a\nfleet increase of 35 per cent by the end of 2014.\"\n\nThe Company is not planning to issue any additional equity at this time.\n\n --- ENDS ---\n\nENQUIRIES\n\nAvation PLC: \nJeff Chatfield (Executive Chairman) +65 9735 4151\n\nLiberum Capital Limited: \nChris Bowman / Richard Bootle +44 203 100 2222\n\nW H Ireland Limited: \nJames Joyce +44 207 220 1666\n\nBlythe Weigh Communications \nTim Blythe, Rob Kellner, Eleanor Parry +44 20 7138 3204\n\nAvation plc\n ","length":3009,"tagName":"div"}]