Avation PLC AIRCRAFT FLEET METRICS (9180M)

TIDMAVAP

RNS Number : 9180M

Avation PLC

19 October 2016

AVATION PLC

("Avation" or "the Company")

AIRCRAFT FLEET METRICS

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company provides an update of fleet metrics. These metrics are calculated by management as at 30 September 2016 and are unaudited.

 
 Date                            30 September   30 September 
                                     2016           2015 
 Size of aircraft fleet               38             31 
 Aircraft fleet age (weighted     3.2 years      5.4 years 
  average) 
 Remaining lease term             7.4 years      5.9 years 
  (weighted average) 
 Fleet Utilisation                   100%           100% 
 

The Company's Executive Chairman, Jeff Chatfield, said: "The Company has purchased and delivered a series of factory new aircraft to airlines during 2016, has sold off mid-life aircraft and has continued to improve average age and lease term metrics. Contracted unexpired lease revenue for the fleet, as at 30 September 2016, totals US$ 752.5 million (30 September 2015: US$550.6 million). Avation seeks to maintain a fleet of aircraft assets with a low average age and long average remaining lease term."

-ENDS-

More information on Avation can be seen at: www.avation.net

Enquiries:

 
 Avation                        T: +65 6252 
  Jeff Chatfield, Executive      2077 
  Chairman 
 

Notes to Editors:

Avation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turbo prop aircraft which it leases to airlines across the world. The Company's customers include VietJet Air, Thomas Cook, Air France, Condor, Air Berlin, Virgin Australia, Fiji Airways and UNI Air.

www.avation.net

This information is provided by RNS

The company news service from the London Stock Exchange

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October 19, 2016 02:00 ET (06:00 GMT)