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Last checked at 
25 Feb 2025 07:23
Via RNS and SGXNET
AVATION PLC
("Avation" or "the Company")
ACQUISITION OF AIRBUS A320 AIRCRAFT
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company Is pleased to announce that it has entered into an agreement to acquire an Airbus A320 on lease to Etihad Airlines. This secondary market transaction adds a high credit quality airline to Avation's customer list and further enhances Avation's narrow-body aircraft fleet. The acquisition is expected to close in March 2025, subject to the completion of customary conditions precedent. By value more than half of Avation's fleet are narrow-body commercial aircraft.
Avation's Executive Chairman, Jeff Chatfield said: "We are delighted to announce this Airbus A320 CEO aircraft acquisition today which adds a top-quality operator to Avation's fleet, further improving revenue diversification and the overall credit quality of our portfolio. We also note that, as announced in our half-year results announcement issued earlier today, the average remaining lease term from our fleet has increased to 4.2 years at 31 December 2024. This is the first increase in this metric since the COVID pandemic ended."
-ENDS-
Enquiries:
Avation PLC - Jeff Chatfield, Executive Chairman +65 6252 2077
Avation welcomes shareholder questions and comments and advises the email address is: investor@avation.net
Notes to Editors: Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world. More information on Avation is available at www.avation.net.
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