Avation PLC - Singapore-headquartered commercial passenger aircraft leasing company - Says that, further to a previous announcement in September, it has delivered an Airbus A320 aircraft to Cebu Pacific, a Philippines-based low-cost carrier. The market rate operating lease is for a four year term. Says that the aircraft was successfully transitioned from a previous operator following scheduled maintenance checks and reconfiguration.
Executive Chair Jeff Chatfield says: "We are delighted to have delivered this aircraft to our Cebu Pacific. This rapid transition demonstrates the Avation team's capacity to remarket and transition aircraft to quality lessees and our ability to leverage the relationships we have with existing customers. This aircraft was one of the three remaining unutilised aircraft in Avation's fleet, the remainder of which are contracted for lease and disposal respectively. We remain optimistic in the market outlook for lessors."
Current stock price: 124.90 pence, down 0.9% on Monday
12-month change: up 8.1%
By Holly Beveridge, Alliance News reporter
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Avation (AVAP)