Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Avation confirms delivery of Airbus A320-200 to easyJet

The plane in question was previously leased to the now defunct Air Berlin, part of which easyJet has now been given permission to acquire

Aircraft leasing group Avation PLC (LON:AVAP) has completed delivery of an Airbus A320-200 to easyJet PLC (LON:EZJ).

A letter of intent was signed back in October but the lease was dependent on easyJet’s partial purchase of Air Berlin – the now defunct German carrier which formerly leased the plane in question.

READ: Avation planning to address shares' discount to net asset value "when conditions permit"

easyJet has now received approval from the European Commission to press ahead with its acquisition.

As Avation stated back in October, the lease rate and duration are typical for an aircraft of this type.

“We are pleased to have entered into a new lease with easyJet for this Airbus A320, allowing a transition of this aircraft from the now-defunct Air Berlin to an airline of such high regard as easyJet,” said executive chairman Jeff Chatfield.

READ: Avation makes first twin-aisle aircraft delivery

“In our view it was pleasing to see such a prompt and commercially seamless aircraft transition.”

Separately, the company announced that it has completed the acquisition of one twin-aisle Airbus A330 aircraft.The aircraft is on lease to EVA Air of Taiwan.

View full AVAP profile View Profile

Avation PLC Timeline

Related Articles

March 13 2018
"Any simple maths will tell you that 9.6×6 months will see us generating over US$57.5mln in lease revenue in the second half"

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use