SINGAPORE: Avation PLC, the commercial passenger aircraft leasing company, has acquired and leased its fourth new Airbus A220-300 aircraft to airBaltic, the Latvian hybrid carrier.
The 12-year lease for the aircraft MSN 55051 commenced on March 29, 2019. Avation’s Executive Chairman, Jeff Chatfield, said: “We have expanded our fleet with a fourth new aircraft delivery to airBaltic. This takes our overall fleet to 43 with a further 13 aircraft on order.”
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 across the globe.
For the 2019 financial year the company is focused on growth in the fleet and the addition of new airline customers. Management believes that the risks associated with its portfolio of aircraft have been reduced during the 2018 financial year through repositioning of the fleet, growth and diversification.
Avation has demonstrated that it has the capability to acquire, finance and deliver multiple aircraft transactions demonstrating the strength of its leasing platform which will support continued future growth.
Management believes that it can attract airline customers, acquire aircraft and obtain the required funding for growth. In addition to operational cash flows, funding is traditionally sourced from capital markets, asset backed bank lending and disposals of selected aircraft.[the_ad id=”31605″]