Avation PLC REPAYMENT OF ECA LOANS (8173K)

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RNS Number : 8173K

Avation PLC

07 September 2021

Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

REPAYMENT OF ECA LOANS

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, advises that it has successfully repaid the outstanding export credit agency insured loans associated with eight of the ATR 72 aircraft that were previously on lease to Virgin Australia Airlines. The loans have been repaid using a combination of the release of deposits held by the ECAs and a new commercial bank financing package backed by the recently announced leases of three ATR 72 aircraft to Hevilift.

Avation's Executive Chairman, Jeff Chatfield said: "The export credit loans associated with the Virgin Australian aircraft have now been refinanced and retired. It is pleasing that commercial bank aircraft lending appears to be reopening following the disruption caused by COVID-19".

ENDS -

Enquiries:

   Avation PLC - Jeff Chatfield, Executive Chairman                                      [phone] 

Avation welcomes shareholder questions and comments and advises the email address is: [e-mail]

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 airlines around the world. More information on Avation is available at www.avation.net .

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September 07, 2021 02:00 ET (06:00 GMT)