Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that it has agreed to acquire one Airbus A330-300. The Company has entered into a conditional agreement with another lessor to purchase the aircraft currently on long-term lease to EVA Air of Taiwan.

The acquisition of this aircraft has been agreed at market rate and is expected to be completed by the end of the fourth quarter of 2017. The Aircraft is approximately 23 months old. The purchase of this aircraft is subject to customary closing conditions including amongst other things regulatory approval of the Taiwan Civil Aviation Authority.

Executive Chairman Jeff Chatfield said: "With the acquisition of this second twin-aisle aircraft, Avation will have progressed on our 11 year evolution from narrowbody jet lessor into a full-service commercial aircraft lessor with turboprop, regional jet, narrowbody jet and twin-aisle aircraft in its fleet along with a suitably qualified management team."