Avation PLC (LSE:AVAP) has called for its claims against Virgin Australia (ASX:VAH) to be settled immediately now that litigation has concluded.
The commercial passenger aircraft leasing company has previously been advised by the Creditors' Trust that its claims against Virgin Australia (ASX:VAH) and associated entities in its administration had been adjudicated by the trustee and admitted for the combined sum of A$101.4mln.
A group of nine lessors, including Avation, had taken action in the Australian courts, asserting that while the administrators of Virgin Australia had control of the lessors' aircraft, they should pay rent as well as certain costs associated with their return to airworthiness, potentially as priority claims in the administration. This litigation has now been concluded with no adjustment to the claims and with no priority claim allowed, Avation said.
The London-listed company believes there should be no further delay by the trustees and they should now pay out the claims proportionately.
As of this date, Avation has no active litigation with Virgin's Trustees nor any of its other clients.