General Announcement::Boeing 737-800 NG Acquisition

Issuer & Securities

Issuer/ Manager
AVATION CAPITAL S.A.
Securities
AVATIONCAP US$300M6.5%210515A - US05351CAA53 - 8ULB
AVATIONCAP US$300M6.5%210515R - USL56473AA67 - 8UMB
AVATIONCAP US$50M6.5%210515RT - USL56473AB41 - PHMB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
29-Mar-2019 10:21:09
Status
New
Announcement Sub Title
Boeing 737-800 NG Acquisition
Announcement Reference
SG190329OTHR9WED
Submitted By (Co./ Ind. Name)
Duncan Scott
Designation
Group General Counsel
Description (Please provide a detailed description of the event in the box below)
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces the acquisition of a Boeing 737-800 Next Generation ("NG") aircraft with CFM 56 Engines in the secondary market. The Company has entered into a conditional agreement to purchase the aircraft which is approximately 8 years old and is on operating lease to Indonesian flag carrier, Garuda Indonesia, until mid-2022.

The acquisition of the aircraft is expected to be completed in the second quarter of 2019 and is subject to closing conditions typical of a transaction of this nature.

Avation's Executive Chairman, Jeff Chatfield, said: "We are constantly looking to further diversify our aircraft portfolio and operator base. We believe that the Boeing 737-800 NG is an excellent aircraft, indeed one of the most successful and popular aircraft types ever made, with a good residual value outlook. Avation is always willing to consider attractive value acquisitions. This aircraft is the second Boeing aircraft in the Company's portfolio."

Attachments

AVAP_RNS_Boeing_737-800_NG_Acquisition_28Mar19.pdf
Total size =418K