Aircraft leasing company Avation PLC (LON:AVAP) has sold the last five remaining Fokker 100 aircraft in its fleet.
The five ageing aircraft, which were originally manufactured in 1992-1994, have been sold more or less at book value.
The sale has been effected by way of finance leases with the purchase price in monthly instalments over a term of three years.
"These aircraft were sold in accordance with the company's risk policies and desire to maintain a young fleet," said Jeff Chatfield, executive chairman of Avation.
In a separate announcement, the company said its credit rating has been upgraded by S&P Global Ratings.
The new rating is 'B+'; previously it was 'B', outlook stable.
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