1 Feb 2016 07:00
AVATION PLC
("Avation" or "the Company")
ACQUISITION OF AIRBUS ON LEASE TO AIR BERLIN
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that, further to the trading update given on 16 November 2015, completion has occurred of the acquisition of the Airbus A320 aircraft referred to in the update.
The aircraft is leased to Air Berlin, the second largest airline in Germany. The terms of the lease are typical for an aircraft of this type and the lease has a remaining term of more than five years. The Company obtained a senior debt facility of approximately US$25 million with one of its existing bankers to support the financing of the acquisition.
-ENDS-
More information on Avation can be seen at: www.avation.net
Enquiries:
Avation Jeff Chatfield, Executive Chairman | T: +65 6252 2077 | |
Stifel Nicolaus Europe Ltd, Joint Broker Robin Mann / Gareth Hunt / Stewart Wallace | T: +44 20 7710 7722 T: +44 20 7710 7479 | |
WH Ireland Ltd, Joint Broker Harry Ansell / James Joyce | T: +44 20 7220 1666 |
Notes to Editors:
Avation PLC
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 Air Berlin, Virgin Australia Airlines, Thomas Cook, Condor, Air France, Fiji Airways and UNI Air.
www.avation.net
Avation (AVAP)