Last checked at 24 Jun 2016 08:08
AVATION PLC
("Avation" or "the Company")
GBP EXPOSURE
Avation, the commercial passenger leasing company, observes the outcome of the referendum and reminds shareholders that all revenues, aircraft assets and associated borrowings are denominated in US currency. Furthermore, the Company has no exposure to GBP derivatives. The Company should be considered to have the United States currency as its operational and reporting currency.
As at the date of this announcement the Company owns 38 commercial passenger aircraft.
-ENDS-
More information on Avation can be seen at: www.avation.net
Enquiries:
Avation Jeff Chatfield, Executive Chairman | T: +65 6252 2077 |
Notes to Editors:
Avation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turbo prop aircraft which it leases to airlines across the world. The Company's customers include Vietjet, Thomas Cook, Air France, Condor, Air Berlin, Flybe, Scandinavian Airlines, Air India, Virgin Australia, Fiji Airways and UNI Air.
Avation is the second largest lessor customer of ATR aircraft globally and the Company is one of a small number of aircraft lessors which have both a sales contract and option positions with ATR. ATR 72 aircraft command approximately 80% - 85% of the current world's 70-seat turboprop market sales.
www.avation.net