Capital Lease Aviation PLC PURCHASE OF AN A320-200 AND FINANCING (8097B)
October 09 2015 - 6:07AM
UK Regulatory
TIDMCLA
RNS Number : 8097B
Capital Lease Aviation PLC
09 October 2015
RNS: CLA October 9, 2015
CAPITAL LEASE AVIATION PLC
("CLA" or "the Company")
PURCHASE OF AN A320-200 and FINANCING
Capital Lease Aviation Plc (LSE: CLA), the commercial passenger
aircraft leasing company, announces that it has entered in to a
conditional sale and purchase agreement to acquire an Airbus
A320-200 for approximately $34.25m (the "Transaction").
Subject to completion the Transaction will be funded by CLA's
cash alongside bank debt finance of $25m. Bank finance has been
successfully secured from a bank conditional on completion.
Completion is subject to typical conditions such as airline
novation of the lease terms. The overall Transaction and financing
is expected to take place by 31 December 2015. On completion of the
Transaction, the CLA group will own four 'A320 family'
aircraft.
The particular Aircraft is six years old. Assuming completion
occurs prior to the end of the calendar year, the average life of
the aircraft in the Company's portfolio as at 31 December 2015 will
be 11.5 years (it was 12.7 years at 30 June 2015), and the average
remaining lease duration will be 4.6 years (it was 4.8 years at 30
June 2015).
Commenting on the Transaction, Jeff Chatfield, Executive
Chairman, said: "We are pleased with the agreement to acquire an
additional A320-200 in CLA, which is on lease and is supported with
cash maintenance reserves. The acquisition of the Aircraft is
another desirable growth opportunity for the Company and fits well
within CLA's investment criteria."
-ENDS-
More information on Capital Lease Aviation can be seen at:
http://www.cl-aviation.com/
Enquiries:
Capital Lease Aviation PLC - Jeff Chatfield, Executive
Chairman
+65 6252 2077
Nominated Advisor - James Joyce / WH Ireland +44 20 7220
1666
Blytheweigh - Tim Blythe / Wendy Haowei / Fergus Lane
+44 20 7138 3204
This information is provided by RNS
The company news service from the London Stock Exchange
END
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