Widebody Lease Extension
Avation PLC has agreed to a four-year lease extension with EVA Air of Taiwan for its A330-300 widebody aircraft. The lease, concerning the aircraft with a passenger capacity of 309 in a three-class configuration, will now expire in November 2031. This extension is considered the most valuable in the company's history for its largest aircraft. The company notes that this extension, along with recent new leases and transactions, increases their weighted average remaining lease term and contracted revenue.
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Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company has agreed a four-year lease extension with EVA Air of Taiwan for its A330-300 widebody aircraft. The extended lease will now expire in November 2031.
Jeff Chatfield, Executive Chairman of Avation said "We are delighted to agree an extension of the lease with EVA Air for our A330-300 widebody aircraft. We see this as a win-win for EVA Air and Avation. The extension allows EVA Air to confirm available passenger capacity for the next six years and Avation retains as its customer one of the highest rated airlines globally.
"This four-year lease extension for the largest aircraft in our fleet is the most valuable in the Company's history. The A330-300 aircraft is a highly popular asset, with a passenger capacity of 309 passengers in a three-class configuration with an excellent airline operator, EVA Air. Recent new leases and transactions along with this extension increase our weighted average remaining lease term and contracted revenue."
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