28th Mar 2019 09:50
LONDON (Alliance News) - Aircraft leasing firm Avation PLC said Thursday it has agreed to buy a second-hand Boeing 737-800 next generation aircraft for an undisclosed sum, which is currently leased to Garuda Indonesia.
Avation explained the 737 was around eight years old and currently on an operating lease until mid-2022 by the Indonesian flag carrier. The acquisition of the aircraft is expected to complete in the second quarter of 2019.
"We are constantly looking to further diversify our aircraft portfolio and operator base," Avation Executive Chair Jeff Chatfield said.
"We believe the Boeing 737-800 NG is an excellent aircraft, indeed one of the most successful and popular aircraft types ever made, with a good residual value outlook. Avation is always willing to consider attractive value acquisitions. This aircraft is the second Boeing aircraft in the company's portfolio."
Shares in Avation were 0.2% higher at 283.00 pence on Thursday.
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