Avation PLC: Sale Of Midlife Airbus A320 Aircraft

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, is pleased to announce that it has sold a 2003 built Airbus A320 aircraft.

The sale of this aircraft is consistent with Avation's policy of selling older aircraft in order to maintain a low average fleet age.

Avation's Executive Chairman, Jeff Chatfield said: "We are pleased to conclude the sale of this sixteen-year-old aircraft in order to maintain a low average fleet age and to realise an additional gain from aircraft trading in the current financial year. The sale was concluded at a satisfactory premium to book value."