General Announcement::Sale of Midlife Airbus A320 Aircraft

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
28-Jun-2019 15:27:51
Status
New
Announcement Sub Title
Sale of Midlife Airbus A320 Aircraft
Announcement Reference
SG190628OTHRZZX5
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, is pleased to announce that it has sold a 2003 built Airbus A320 aircraft.

The sale of this aircraft is consistent with Avation's policy of selling older aircraft in order to maintain a low average fleet age.

Avation's Executive Chairman, Jeff Chatfield said: "We are pleased to conclude the sale of this sixteen-year-old aircraft in order to maintain a low average fleet age and to realise an additional gain from aircraft trading in the current financial year. The sale was concluded at a satisfactory premium to book value."