2nd Mar 2023 12:47
Avation PLC - Singapore-based passenger aircraft leasing firm - Signs a lease agreement with new airline customer in the Pacific region. Says the lease is for an ATR 72-600 aircraft that was repossessed in August 2022, following the default of an airline in Myanmar. The aircraft is due to be delivered to the new customer for a lease term of 24 months. Notes that this reduces the number of off-lease aircraft in Avation's fleet to two from three.
Executive Chair Jeff Chatfield says: "We are pleased to place this aircraft on lease to a new customer. Delivery will occur in the next few weeks. The management remains confident of placing or selling the two remaining unutilised aircraft before June 30, 2023."
Current stock price: 123.00 pence
12-month change: up 35%
By Sophie Rose, Alliance News reporter
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