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
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Avation (AVAP)