Business
Acquisition of two Airbus A321-200 Aircraft
Acquisition of two Airbus A321-200 Aircraft.
About this update from Avation Plc
[{"type":"text","content":"\n \n\n AVATION PLC\n ('AVATION' OR THE 'COMPANY')\n\nACQUISTION OF TWO AIRBUS A321-200 AIRCRAFT, PROVISION OF MEZZANINE FINANCE AND GRANTING OF A GUARANTEE\n\nThe Board of Avation advises that its 51.22% owned and AIM-listed subsidiary, Capital Lease Avation\nPLC (\"CLA\") has purchased two Airbus A321-200 aircraft for a total of USD $70,750,000.\n\nCLA has acquired the planes using its own funds together with banking facilities. This includes a\nvendor finance facility, for which Avation has provided a guarantee in respect of USD $2,000,000 to an\naircraft vendor, and Avation has also provided USD $800,000 in mezzanine finance.\n\nThe purchase of these two aircraft brings the total number of aircraft owned by the Company and its\nsubsidiaries to 10. These are four Fokker F100's directly owned by Avation or its 100% owned\nsubsidiaries, and three Fokker F100's, an Airbus A320 and these two A321 aircraft owned by CLA.\n\n The directors take responsibility for the contents of this announcement.\n\n ---ENDS---\n\nENQUIRES:\n\nAVATION PLC 07783 942 553\nJeff Chatfield, Chairman\n\nSTOCKBROKERS\nWH Ireland Ltd 020 7220 1670\n\nCornhill Asset Management Ltd 020 7743 6000\n\nADVISOR 020 7628 1128\nFrank Lucas\nLoeb Aron & Company Ltd.\n\nMEDIA 020 7562 3350\nMaxine Barnes, Nick Rome\nBishopsgate Communications\n\nWEBSITES\n\nwww.avation.net\n\nAvation plc\n\n\t\t\t\t\t\t \n ","length":1769,"tagName":"div"}]