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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Advent Air | LSE:AAIR | London | Ordinary Share | SG9999002018 | ORD SGD0.20 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 16.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6743E Advent Air Limited 28 September 2007 For immediate release 28 September 2007 ADVENT AIR LTD ("Advent Air" or the "Company") Fleet expansion to 11 Aircraft The Board of Advent Air is pleased to announce that its wholly-owned subsidiary company Skywest Airlines ("Skywest") has signed an agreement to lease a further Fokker 100 jet bringing its total fleet of aircraft to eleven. The aircraft is required to ensure delivery of services to resource sector clients of Skywest and will also be used on the new commercial routes offered by the airline. HIGHLIGHTS * The lease agreement is with a subsidiary of Avation PLC (AVAP.PZ); * The lease rate is approximately USD $1.18m per year plus maintenance reserves; * The term of the lease is 60 months; and * On termination of the lease, Skywest is obliged to ensure in the handback process that the aircraft will possess a certificate of airworthiness that is valid for at least 3,000 flight hours. The new lease by Skywest of the Fokker 100 aircraft is being treated as a related party transaction under the AIM Rules. The independent directors of Advent, comprising the non-executive directors being John Jost and Seah Kian Peng having consulted the Company's Nominated Adviser, have considered the new lease of the Fokker 100 aircraft from the Avation subsidiary (the "Transaction "), and consider that the terms of the Transaction are fair and reasonable insofar as the shareholders of Advent Air are concerned. Skywest recently announced growth in passenger numbers over the year to August 2007 of 14.6% and new passenger routes to Port Hedland and Melbourne. Advent Air's Chairman, Jeff Chatfield said: "With this expansion to our aircraft fleet, Skywest remains well positioned to exploit the continued growth dynamic in the Western Australia market, which is underpinned by growing passenger numbers and the opening up of new routes. Skywest is seeking resource sector charters as well as provision for the growth associated with the new services such as those offered to Port Hedland and Melbourne." The directors take responsibility for the contents of this announcement. ENQUIRES: Advent Air Ltd 07783 942 553 Jeff Chatfield, Chairman Nominated Advisor 0207 220 1666 James Joyce/David Porter, W H Ireland Limited Stockbroker W H Ireland Limited 0207 220 1690 Financial Public Relations Bishopsgate Communications 0207 562 3350 Maxine Barnes Nick Rome Websites: www.advent.com.sg www.skywest.com.au This information is provided by RNS The company news service from the London Stock Exchange END MSCSEAFWWSWSEFU
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