SINGAPORE – 21 APRIL 2020 - Avation PLC (LSE: AVAP) - the commercial passenger aircraft leasing company provides the following announcement in response to a question from an analyst.
The Company is a lessor of commercial aircraft, with a total of 48 aircraft and one engine on lease to airlines in Europe, Latin America, Asia-Pacific and Australia. Many of these airlines have had their operations materially impacted by government decrees limiting movement in response to the COVID-19 pandemic.
The Company advises that among the 48 aircraft fleet that the Company owns, 63% of the fleet operates purely on domestic or regional routes. This is mainly driven by the lessor’s strategy to own turboprop aircraft.
Avation’s management is of the opinion that domestic and regional air travel will be the first sector to recover from the movement restrictions and resulting reduction in demand for air travel caused by the COVID-19 pandemic, earlier than long-haul international travel.