General Announcement::SIXTH 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
17-May-2019 10:11:25
Status
New
Announcement Sub Title
SIXTH AIRBUS A220-300 DELIVERY TO AIRBALTIC
Announcement Reference
SG190517OTHR30P7
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 sixth new Airbus A220-300 aircraft to airBaltic, the Latvian hybrid carrier. The 12-year lease for the aircraft MSN 55053 commenced on 15 May 2019. This is the last in the series of aircraft contracted by the Company with airBaltic.

The Airbus A220-300 was specifically designed and purpose-built for the 130-160 seat market. Airbus states that the A220-300's advanced 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, and decreased emissions.

Avation's Executive Chairman, Jeff Chatfield, said: "We are pleased to take delivery of our sixth latest technology A220-300 aircraft for our customer airBaltic. This latest addition to our fleet is the last in the current series of sale and leaseback transactions agreed with airBaltic. This aircraft grows our overall fleet to 45 commercial passenger aircraft with a further 13 on order out to the year 2022."