Leasing firm Avation PLC (LON:AVAP) has highlighted in a stock market statement that it has delivered a series of brand new aircraft into its portfolio.
The Avation fleet, as at May 2, comprised 38 aircraft with an average fleet age of 4.4 years and with an average remaining lease of 6.4 years. Fleet utilisation is currently 100%.
It said the average appraised valuation of aircraft fleet was US$705.7mln and the total remaining rental income amounted to US$530.8mln.
The total theoretical fleet size (if all options exercised and letters of intent are completed) is 80 aircraft.
Jeff Chatfield, Avation executive chairman, said: “During 2016 the Company has recently delivered a series of brand new aircraft with one further scheduled for delivery for May 2016.
“Excluding trading activities the theoretical total fleet size if all options were exercised and letters of intent completed is 80 aircraft."