Acquisition

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company Is pleased to announce that it has entered into an agreement to acquire an Airbus A320 on lease to Etihad Airlines. This secondary market transaction adds a high credit quality airline to Avation's customer list and further enhances Avation's narrow-body aircraft fleet. The acquisition is expected to close in March 2025, subject to the completion of customary conditions precedent. By value more than half of Avation's fleet are narrow-body commercial aircraft.

Avation's Executive Chairman, Jeff Chatfield said: "We are delighted to announce this Airbus A320 CEO aircraft acquisition today which adds a top-quality operator to Avation's fleet, further improving revenue diversification and the overall credit quality of our portfolio. We also note that, as announced in our half-year results announcement issued earlier today, the average remaining lease term from our fleet has increased to 4.2 years at 31 December 2024. This is the first increase in this metric since the COVID pandemic ended."