DART GROUP PLC
25 October 1999
Dart Group PLC ('the Group') announces that it has exchanged contracts for the
sale of an Airbus A300 currently used by the Group's cargo airline Channel
Express (Air Services) Limited, which presently operates 14 cargo aircraft.
The consideration on disposal will be US$14.75m (£8.89m) payable in cash on
completion in January 2000.
The net book value of this aircraft as at 31st March, 1999 was US$13.28m
(£8.0m). After payment of the costs of the transaction, including an engine
overhaul, the gain on disposal is expected to be approximately £0.2m. The
proceeds will be used in part to reduce borrowings with the remainder being
retained to fund the Group's further development.
Contacts: Philip Meeson 01202 597676 or Mobile: 0385 258666
Mike Forder 01202 597676 or Mobile: 0421 865850