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Avation completes Boeing 737-800 NG acquisition, delivers ATR 72-600 to Cebu Air

The aircraft leasing firm had previously announced the Boeing acquisition in March, which now takes its portfolio to 47 aircraft and expands its customer list to 17 airlines

Boeing 737-800 NG
The aircraft leasing firm had previously announced the Boeing acquisition in March

Avation PLC (LON:AVAP) has completed its acquisition of a Boeing 737-800 Next Generation (NG) aircraft while also delivering a new ATR 72-600 turboprop aircraft to Philippine budget carrier Cebu Air.

The aircraft leasing firm had previously announced the Boeing acquisition in March, which now takes its portfolio to 47 aircraft and expands its customer list to 17 airlines in 13 countries.

READ: Avation acquires Boeing 737-800 NG aircraft

The plane is currently on lease to Indonesian airline Garuda until mid-2022.

Avation's Executive Chairman, Jeff Chatfield, said the aircraft was a successful and popular model with a “strong residual value outlook".

In a separate announcement, the company said it had delivered the ATR aircraft to Cebu at the manufacturer’s facility in Toulouse.

In lunchtime trading on Friday, Avation shares were 0.5% higher at 289p.

Quick facts: Avation PLC

Price: 125 GBX

LSE:AVAP
Market: LSE
Market Cap: £78.34 m
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Avation PLC: Proactive Investor Presentation

Avation PLC's (LON:AVAP) Richard Wolanski pitches the company to investors at the Proactive One2One Virtual Event. Avation's a specialist commercial passenger aircraft leasing company managing a fleet of aircraft which it leases to airlines across the world including Flybe, Air France and...

on 9/6/20

2 min read