Business
MARKET UPDATE
MARKET UPDATE.
About this update from Avation Plc
[{"type":"text","content":"\n \nRNS Number : 5581U Avation PLC 08 April 2016 \n\nAVATION PLC\n(\"Avation\" or \"the Company\")\n \nMARKET UPDATE\nAvation PLC (LSE: AVAP), the commercial passenger aircraft leasing company announces certain aircraft fleet metrics. These general information metrics are calculated by management as at 31 March 2016 and are unaudited.\n \n \n\n\n\n\nDate\n\n\n31 December 2015\n\n\n31 March 2016\n \n\n\n\n\nAircraft in Fleet\n\n\n33\n\n\n37\n \n\n\n\n\nAircraft fleet age (weighted average)\n\n\n5.2 years\n\n\n4.5 years\n \n\n\n\n\nRemaining lease term (weighted average)\n\n\n5.7 years\n\n\n6.7 years\n \n\n\n\n\nFleet Utilisation\n\n\n100%\n\n\n100%\n\n\n\n\n \n \nThe Company's Executive Chairman, Jeff Chatfield, said: \"The Company has delivered a series of brand new aircraft to airlines during 2016; these aircraft have added scale and also improved the age and lease term metrics. The weighted average age of the fleet has been reduced to 4.5 years with remaining weighted average lease term increasing to 6.7 years.\"\n \n-ENDS-\n \nMore information on Avation can be seen at: www.avation.net\nEnquiries: \n\n\n\n\nAvation\nJeff Chatfield, Executive Chairman\n\n\n\n\n\nT: +65 6252 2077\n\n\n\n\n\nNotes to Editors: \nAvation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turbo prop aircraft which it leases to airlines across the world. The Company's customers include Thomas Cook, Air France, Condor, Air Berlin, Virgin Australia, Fiji Airways and UNI Air. \nAvation is the second largest lessor customer of ATR aircraft globally and the Company is one of a small number of aircraft lessors which have both a sales contract and option positions with ATR. ATR 72 aircraft command approximately 80% - 85% of the current world's 70-seat turboprop market sales.\nwww.avation.net\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCLLFEESLIDIIR\n ","length":4743,"tagName":"div"}]