The aircraft leasing firm said the acquisition was expected to complete in the second quarter of 2019.
READ: Avation acquires and leases third new Airbus A220-300 aircraft to Latvian hybrid carrier, airBaltic
The plane, which is eight years old and the second Boeing aircraft in Avation’s portfolio, is currently on an operating lease with Indonesian airline Garuda until mid-2022.
Jeff Chatfield, executive chairman of Avation, said the 737-800, “one of the most successful and popular aircraft types ever made”, had “good residual value”.
In early trading on Thursday, Avation shares were up 0.2% at 283p.