30 Oct 2023 07:00
Via RNS and SGXNET
AVATION PLC
("Avation" or "the Company")
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SALE OF ATR 72-500 AIRCRAFT
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Avation PLC (LSE: AVAP) the commercial passenger aircraft leasing company is pleased to announce that it has completed the sale of one ATR 72-500 aircraft with manufacturer's serial number 955 which was returned to the Company in October 2023 pursuant to a consensual lease termination from its operator, FlyBig Airlines, an Indian carrier. The aircraft has now been sold and delivered to an airline based in Nepal.
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Avation's Executive Chairman, Jeff Chatfield, said: "The Company is delighted to complete the export and sale of our oldest ATR 72-500. The Company's strategy is to focus on new technology low CO2 aircraft such as the ATR72-600 with new technology engines. We are pleased that our transitions team was able to have successfully recovered an aircraft from India with a lease termination, re-registration and export in a matter of weeks."
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-ENDS-
Enquiries:
Avation PLC - Jeff Chatfield, Executive Chairman +65 6252 2077
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Avation welcomes shareholder questions and comments and advises the email address is: investor@avation.net
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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.