18th May 2020 13:20
(Alliance News) - Avation PLC said Monday it has secured a six-year lease extension for a Boeing 737-800 aircraft operated by an "Asian flag carrier".
The lease extension rent is at a market rate and the expiry date for the lease has been extended to June 2028 from June 2022, Avation said.
Executive Chair Jeff Chatfield added: "We feel it is prudent in terms of risk mitigation to extend the duration of this lease to the year 2028, given the uncertain near term outlook for mid-life narrow body commercial passenger aircraft."
Shares in Avation were down 4.0% in London on Monday at 144.00 pence each.
By Paul McGowan; [email protected]
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