26th Mar 2008 11:37
Capital Lease Aviation PLC26 March 2008 26 March 2008 Capital Lease Aviation PLC ("CLA") ACQUISITION OF AIRBUS A320 AIRCRAFT The Board of CLA, the AIM quoted aircraft leasing company, advises that it hascompleted the purchase of an A320 jet aircraft from a US based Trust companywhich is under lease to a major US domestic airline. HIGHLIGHTS • CLA has paid US$12.15m for the aircraft; • CLA's representatives conducted a technical assessment of the aircraft and its engines and associated technical records which were reported to be entirely satisfactory; • The aircraft is leased until 2013 to a large domestic US carrier at current market lease rates with an option to renew at the then prevailing market rates; and • CLA paid the purchase price from existing cash reserves and intends to leverage the ownership of the asset when required to match the term of the lease. The Executive Chairman, Mr Jeff Chatfield, said: "This A320 acquisition is in line with CLA's strategy to diversify both itsasset and customer base. The A320 type is highly sought-after by airlinesaround the world and is in demand at the moment. CLA remains focussed onsecuring and leasing a diversified range of quality aircraft assets for thebenefit of its shareholders." ---ENDS--- Enquiries: CAPITAL LEASE AVIATION PLCJeff Chatfield, Executive Chairman 07783 942 553 STOCKBROKERSWH Ireland Limited 020 7220 1670 MEDIAMaxine Barnes, Nick Rome & Nick FarmerBishopsgate Communications 020 7562 3350 NOMINATED ADVISERJames Joyce, David PorterWH Ireland Limited 020 7220 1666 Notes to Editors - About CLA CLA was incorporated by Avation on 6 June 2007 with the purpose of owning andleasing a portfolio of commercial jet aircraft to a wider customer base ofregional and international airlines. The Directors have identified a trend in the commercial aviation sector towards"leasing-in" capacity whereby airlines lease part of their fleet rather thanpurchasing aircraft, and the Directors intend that CLA will exploit this trendin the future. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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