Share Name Share Symbol Market Type Share ISIN Share Description
Avation Plc LSE:AVAP London Ordinary Share GB00B196F554 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 278.00 276.00 280.00 278.00 278.00 278.00 155,521 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 94.0 20.1 31.7 8.9 179

Avation PLC GE Aviation and Avation Asset Transfer System

17/06/2019 8:05am

UK Regulatory (RNS & others)


Avation (LSE:AVAP)
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RNS Number : 1337A

Avation PLC

17 June 2019

Via the RNS service of the LSE

AVATION PLC

("Avation" or "the Company")

GE Aviation and Avation sign Asset Transfer System Agreement for Leasing Market

Digital Records System Streamlines Leased Asset Documents

Le Bourget, FRANCE - June 17, 2019 - GE Aviation and Avation PLC today announced an agreement to provide the AirVault Asset Transfer System across the lessor's fleet of ATR72 turboprops, A220-300 A320 and A321 narrow-body jets, Boeing 777-300ER and Airbus A330-300 twin-aisle airplanes. The implementation is starting this month, with anticipated completion this year.

"By providing the expertise to digitally manage mission-critical records across Avation's fleet, we're strengthening the focus on asset lifecycle management and maintenance optimization for the aviation industry," said Gib Bosworth, director for GE Aviation.

The combination of GE's domain expertise in flight analytics and engine diagnostics to bring disparate data together and the digital leased asset transfer system capability will further enable web-based fleet maintenance across the aviation leasing market.

Jeff Chatfield, Executive Chairman of Avation PLC said, "Avation is pleased to have selected the GE Aviation Air Vault Asset Transfer System to store and manage our fleet's aircraft records. Avation went through an extensive evaluation and comparison process to select a platform."

The Asset Transfer System is a collaborative tool that streamlines and simplifies the way that leased asset documentation is managed between airlines and lessors by allowing operators to organize records in accordance with industry standard. The system enhances the efficiency of lease returns by helping operators organize files, perform collaborative document reviews with their lessors, and transfer files through an intuitive and digital user interface.

Bosworth added, "The ability to connect records and data across aviation companies and the IT systems they use to manage their fleets will data availability and drive productivity."

Avation PLC (LSE:AVAP) is a commercial passenger aircraft leasing company headquartered in Singapore, managing a fleet of aircraft which it leases to airlines across the world. Their customers include Flybe, Virgin Australia, Thomas Cook, Air France, easyJet, Eva Air, Philippine Airlines, Air India, Vietjet Air, Fiji Airways, Mandarin Airlines, Galistair, airBaltic and Danish Air Transport. www.avation.net

GE Aviation, an operating unit of GE (NYSE: GE), is a world-leading provider of commercial and military jet engines, and avionics, digital solutions and electrical power systems for aircraft. GE is the world's Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.geaviation.com/digital

ENDS

Enquiries:

 
 GE 
  Jennifer Villarreal                      +1 616 241 8643 
 
  jennifer.villarreal3@ge.com 
                                           T: +65 6252 2077 
  Avation 
  Jeff Chatfield, Executive Chairman 
 

Avation welcomes shareholder questions and comments and advises the email address is: investor@avation.net

Notes to Editors:

Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to international airlines.

More information on Avation is available at www.avation.net.

More information on GE is available at www.geaviation.com/digital

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

June 17, 2019 03:05 ET (07:05 GMT)

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