Avation PLC (LON:AVAP) the commercial passenger aircraft leasing company, told investors that, further to its announcement on 9 January 2020, it has delivered the second of two Airbus A321 aircraft to Vietjet Air under a long term operating lease.
In a statement, the firm said the aircraft - which are being transitioned from a prior operator - has completed calendar airframe maintenance checks, been configured for operations by VietJet Air and has been put into Vietjet Air livery.
READ: Avation completes purchase of its first engine to lease as a spare to commercial aircraft operators
VietJet Air -- a valued existing customer of Avation - operates a modern fleet of Airbus A320s and A321s with an average age of 3.3 years.
It has a substantial route network of 135 routes including domestic and international destinations in Thailand, Singapore, South Korea, Taiwan, Malaysia, China, Japan, Hong Kong, Indonesia, India and Myanmar.
Strategic review awaited
Last week, Avation shares climbed after the group revealed it had begun a strategic review which could result in the company selling itself.
The aircraft leasing firm said the strategic review will consider multiple options to “maximise value for shareholders” including merger and acquisition activity, sales within the firm’s aircraft portfolio, as well as the sale of the entire company.
Formally announcing that it was now in an offer period, Avation also confirmed that it was in preliminary discussions with an interested party over a potential sale, although there was no certainty that an offer will be made.