Commercial passenger aircraft leasing company, Avation PLC (LSE:AVAP), announced the successful completion of the sale of a Boeing 737-800.
The 13-year-old passenger jet had been repossessed from an airline in COVID-related difficulty and was off-lease.
The sale of the unencumbered aircraft further reduces Avation's inventory of off-lease aircraft from four to three, as the company seeks to transition to a modern technology low CO2 fleet.
Jeff Chatfield, Avation's executive chairman, said: "We are pleased to conclude the sale of this aircraft in furtherance of our desire to transition to newer low CO2 aircraft. Our transitions team successfully managed to repossess the aircraft and swiftly shop visit both engines and the airframe. This sale is in line with our management objective to transition, lease, or sell any remaining off-lease aircraft by 30 June 2023."
No financial details were given.