AVATION PLC — M&A Activity 2021

Aug 16, 2021

National Storage Mechanism | Additional information

RNS Number : 7379I

Avation PLC

16 August 2021

Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

THREE ATR LEASES SIGNED

Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that it has signed new five-year leases for three ATR 72-500 aircraft with the Australian airline Hevilift. Two of the new leases are follow-on leases for aircraft that are already operating with Hevilift and the third is a new lease. The first of the three leases commenced the 10th of August. 

These aircraft are all former Virgin Australia aircraft that the company has been remarketing since Virgin Australia entered administration and returned the aircraft to Avation. Virgin Australia returned six ATR 72-500 aircraft to Avation of which five have now been leased or sold.  

Avation's Executive Chairman, Jeff Chatfield said: "We are pleased to sign these long-term leases with Hevilift, an existing and valued customer. We are starting to observe a recovery in the air travel industry, notably in the regional sector where the ATR 72 is the optimal aircraft."

ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive Chairman                                      +65 6252 2077

Avation welcomes shareholder questions and comments and advises the email address is: investor@avation.net

Notes to Editors:

Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world. More information on Avation is available at www.avation.net.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

AGRFIFFDTSIRLIL