Avation PLC (LON:AVAP) has signed a conditional letter of intent with easyJet PLC’s (LON:EZJ) operating company for a new lease on an Airbus A320-200 aircraft which was previously on lease to collapsed German airline Air Berlin.
The commercial passenger aircraft leasing company said the term sheet for the new lease is subject final documentation and the formal completion of easyJet's partial purchase of Air Berlin, with the proposed lease rates and duration typical for an aircraft of the type.
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Avation’s executive chairman, Jeff Chatfield commented: "We are pleased to have entered into a conditional term sheet with easyJet for a new lease of the Airbus A320 providing for the smooth transition of the aircraft.”
He added: “Avation does not expect any financial impairment, material loss nor gain associated with the transition of the aircraft from Air Berlin to easyJet".