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IN BRIEF: Avation client Philippine Airlines exits bankruptcy

Tue, 04th Jan 2022 13:58

Avation PLC - Singapore-based commercial passenger aircraft leasing company - Says customer Philippine Airlines Ltd exits bankruptcy and receives court approval for restructuring plan. Under restructuring, Philippine Airlines retains a Boeing 777-300ER aircraft on lease from Avation. Avation has been collecting monthly rent on aircraft since September. Avation is also entitled to a cash payment relating to its use for the period between September 1, 2020 to September 3, 2021.

Current stock price: 97.00 pence, up 9.6% on Tuesday in London

By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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