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Avation leases ATR 72-600 aircraft to Swedish airline Braathens

The plane will be the fifth that Avation has leased to Braathens, the first of which is due to be delivered this month

Avation PLC - Avation leases ATR 72-600 aircraft to Swedish airline Braathens

Avation PLC (LON:AVAP) has leased one of the ATR 72-600 aircraft in its order book to Swedish regional airline Braathens.

The aircraft will be delivered at the manufacturer’s facility in Toulouse, France in March and be leased for 10 years.

READ: Avation expects to report record half-year revenues

The plane will be the fifth that Avation has leased to Braathens, the first of which is due to be delivered this month.

Avation also announced that its credit rating had been upgraded to ‘positive’ from ‘BB’ by the Japan Credit Rating Agency.

Jeff Chatfield, Avation’s executive chairman, said the company was constantly seeking “to improve its credit rating in order to lower its funding cost”.

In early trading on Thursday, Avation's shares were steady at 267.5p.

--Adds share price--

Quick facts: Avation PLC

Price: 318.8986 GBX

LSE:AVAP
Market: LSE
Market Cap: £199.98 m
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Full interview: Avation PLC soaring as it reports record revenue, profit and...

Avation PLC's (LON:AVAP) Richard Wolanski caught up with Proactive London's Andrew Scott following the release of the aircraft leasing company's full year results to June 2019. The firm achieved both record revenues and profits and investors were rewarded with a bumper dividend pay-out too.

on 11/9/19

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