(Alliance News) - Avation PLC said Thursday it sold an older Airbus A320 aircraft as part of its strategy to keep the average fleet at the aircraft leasing firm low.
"We are pleased to conclude the sale of this sixteen-year-old aircraft in order to maintain a low average fleet age and to realise an additional gain from aircraft trading in the current financial year," Avation Executive Chair Jeff Chatfield said. "The sale was concluded at a satisfactory premium to book value."
Avation said the A320 was built in 2003 but did not provide any financial details for the sale.
Shares in Avation were 0.3% higher at 272.70 pence in London on Thursday.
Avation (AVAP)