2nd Jun 2014 08:49
LONDON (Alliance News) - Avation PLC Monday said its has delivered its 16th new ATR 72 aircraft, which is said it has already leased out to Fiji Airways for a 12-year period.
The commercial passenger aircraft leasing company said the aircraft was funded using its own resources and supplemented by additional commercial debt totalling USD16 million.
It said the financing was secured with a new financier, a European commercial bank with "competitive commercial rates". It didn't name the lender.
"This new aircraft immediately contributes positively to the continuing growth of the company's revenues and profits with expansion of our leased aircraft asset base," said Executive Chairman Jeff Chatfield in a statement.
Avation shares were off 1.3% at 115.50 pence Monday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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