Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, is pleased to announce that it has sold a 2011 built ATR 72-500 aircraft with manufacturer serial number 978.

The aircraft was one of 11 ATR aircraft previously leased to Virgin Australia (“Virgin”) which were redelivered to the Company when Virgin entered administration. The sale of this aircraft leaves Avation with seven remaining aircraft previously leased to Virgin which will be transitioned or sold.

Avation’s Executive Chairman, Jeff Chatfield said: “We are pleased to conclude the sale of this ten-year-old aircraft to a North American airline. This sale further reduces the inventory of aircraft which were recovered from by Virgin Australia.”