General Announcement::BOEING 737 LEASE EXTENSION

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
19-May-2020 13:02:31
Status
New
Announcement Sub Title
BOEING 737 LEASE EXTENSION
Announcement Reference
SG200519OTHRLE7K
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 advises that it has negotiated a six-year lease extension on an Asian flag carrier-operated Boeing 737-800 aircraft. The lease extension rent is at a market rate and the expiry date for the lease has been extended from June 2022 to June 2028.

Jeff Chatfield, Executive Chairman of Avation, said: "We feel it is prudent in terms of risk mitigation to extend the duration of this lease to the year 2028, given the uncertain near term outlook for mid-life narrow body commercial passenger 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 .