10th Dec 2015 10:21
LONDON (Alliance News) - Avation PLC Thursday said Vietjet Air has, subject to final contract, mandated Avation for the lease of four new Airbus A321 aircraft during 2016, with an option for a fifth.
The aircraft will be on lease for a twelve-year term. Lease rates and other terms are "typical for transactions of this type", it said.
"Avation continues to diversify its fleet. By the end of April 2016 Avation believes that approximately 50 per cent of its aircraft book value will be jet aircraft. Avation believes that larger high-capacity, narrow body modern commercial aircraft such as the Airbus A321 represent an attractive long term investment class. In addition to this mandate, Avation owns three and has on order a further two Airbus A321 aircraft," said Executive Chairman Jeff Chatfield in a statement.
Shares in Avation were untraded Thursday, they last closed at 128.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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