6th Nov 2015 08:00
LONDON (Alliance News) - Avation PLC Friday said it has struck a deal to purchase its first Boeing aircraft, which is currently on lease to a Chinese carrier.
The Boeing 737-800NG aircraft is eight years old and Avation said the commercial terms of the deal are "consistent with the current market price for aircraft of that age and condition," it said, without revealing any financial details of the deal.
The unnamed Chinese carrier currently leasing the aircraft has five and a half years left on the current lease, meaning Avation has added "another prestigious top tier airline customer" to its books.
It is the first Boeing aircraft that Avation has acquired, boosting its fleet of aircraft to 34, with more aircraft set to be delivered "over the coming months".
"The economic benefit of the acquisition to the company will be reported during the second half of the current financial year with closing anticipated to occur at the end of the calendar year," said Avation.
By Joshua Warner; [email protected]; @JoshAlliance
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