General Announcement::Fifth Airbus A220-300 Delivery to airBaltic

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-Apr-2019 14:28:49
Status
New
Announcement Sub Title
Fifth Airbus A220-300 Delivery to airBaltic
Announcement Reference
SG190429OTHRCRCD
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, has acquired and leased its fifth new Airbus A220-300 aircraft to airBaltic, the Latvian hybrid carrier. The 12-year lease for the aircraft MSN 55052 commenced on 26 April 2019.

The Airbus A220-300's aerodynamics combined with specifically designed Pratt & Whitney PurePower PW1500G geared turbofan engines contribute to an aircraft that delivers 20% lower fuel burn per seat than previous generation aircraft, with half the noise footprint, decreased emissions, making it a true community-minded jetliner.

Avation's Executive Chairman, Jeff Chatfield, said: "We are pleased to take delivery of our fifth of these latest technology aircraft for our customer airBaltic. This addition grows our overall fleet to 44 commercial passenger aircraft with a further 12 on order out to the year 2022. It is our view that the Airbus A220-300 was specifically designed and purpose-built for the 130-160 seat market to represent a fusion of latest technology and performance, allowing airlines to connect distant points on continents or on sectors that were previously unprofitable or impossible."