Avation PLC AIRCRAFT PLACEMENT (4839L)
July 19 2017 - 4:41AM
UK Regulatory
TIDMAVAP
RNS Number : 4839L
Avation PLC
19 July 2017
AVATION PLC
("Avation" or "the Company")
AIRCRAFT PLACEMENT
Avation PLC (LSE: AVAP), the commercial passenger aircraft
leasing company advises that on 19 July 2017 the board of directors
of Mandarin Airlines has approved the selection from Avation and
ATR of a series of aircraft for lease and purchase.
The Company has entered into a conditional letter of intent to
lease three ATR 72-600 on a long term basis aircraft to Mandarin
Airlines, the subsidiary of Taiwanese flag carrier China Airlines.
These three aircraft will be configured to the customer's
specifications and client's livery and are expected to be delivered
into service in October, November and December 2017. The full text
of the Mandarin Airlines announcement is included below in this
announcement.
ATR ORDER BOOK
The Company has now placed all 2017 deliveries in its order
book. The Company has six further new ATR 72 aircraft on order for
delivery in 2018 and 2019 and 27 options extending further
forwards.
The Company's Executive Chairman, Jeff Chatfield, said:
"Mandarin Airlines is a major domestic airline and is a subsidiary
of China Airlines, the flag carrier of the Republic of China,
Taiwan. Avation is pleased to have "sold out" and placed all
available aircraft for delivery in calendar 2017. The Company is
aggressively marketing its 2018 ATR order book. Avation will use
the proceeds from the sale of six aircraft which completed on June
30 to fund the equity required for the 2017 deliveries and is also
considering the acquisition of additional jet aircraft to further
diversify its portfolio."
-ENDS-
Enquiries:
Avation
Jeff Chatfield, Executive T: +65 6252 2077
Chairman
Note to Editors:
Avation PLC is a passenger aircraft leasing company, owning a
fleet commercial aircraft which it leases to airlines across the
world. The Company's customers include Air France, Air Berlin, Air
India, Condor, Flybe, Fiji Airways, Thomas Cook, Virgin Australia,
UNI Air and Vietjet Air.
More information on Avation PLC can be seen at:
www.avation.net
< FULL TEXT OF MANDARIN AIRLINES ANNOUNCEMENT>
19(th) July, 2017
Mandarin Airlines introduces ATR72-600 new Fleet to strengthen
its domestic routes
Mandarin Airlines, a subsidiary of flag carrier China Airlines
in Taiwan, held its board meeting on 19(th) July, 2017 and
announced the approval of new fleet plan to introduce
ATR72-600s.
In accordance with the fleet optimization plan, Mandarin
Airlines will lease 3 ATR72-600s from UK-based leasing lessor
Avation PLC in 2017 , and purchase another 6 ATR72-600s from ATR
manufacturer between 2018 to 2020. A total of nine ATR72-600s fleet
will be deployed by 2020.
In addition to 6 E190s and 2 B737-800s in current fleet,
Mandarin Airlines will enhance overall fleet capacity, and
significantly increase domestic network and frequencies. The E190
fleet will focus on more international and cross-strait routes as
well as flexibly support domestic routes to meet peak season and
holidays' demand .
ATR72-600 has very competitive operating economics and is very
suitable for domestic network in Taiwan. The cabin interior is
designed in simple and elegant style for more comfort. Passenger
capacity is 70 seats with 30 inches of seat pitch providing
spacious leg room.
Mandarin Airlines will continue to expand its domestic ,
international and cross-strait routes by means of synergic
collaboration with its parent company China Airlines.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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