7th Aug 2015 07:18
LONDON (Alliance News) - Commercial passenger aircraft leasing company Avation PLC on Friday said it has reached a deal to acquire an Airbus A320 from Dublin-based lessor Avolon which is operated and on lease to French carrier Air France.
The acquisition, for an undisclosed amount, will be subject to due diligence and the execution of the lease novation by Avation, Air France and Avolon.
Following completion of this acquisition, Avation will own six aircraft from the A320 platform.
"The company is focussing on pursuing a strategy involving diversifying the airline customer base and geographical dispersion and the addition of this aircraft meets these criteria. The Company is further evaluating the potential acquisitions of a number of additional aircraft that are currently in-service with other airlines to continue our growth trajectory," said Avation Executive Chairman Jeff Chatfield.
Shares in Avation were untraded early Friday, having last traded at 137.66 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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