Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that, further to the announcement on 24 April 2017, the sale of six aircraft pursuant to sale and purchase agreements with Chorus Aviation Capital Corp., and subsidiaries, has now been satisfactorily completed.

Chorus Aviation Inc. (TSX: CHR), the parent company of Chorus Aviation Capital Corp., has made an announcement regarding the transaction which is appended below.

The sale of these aircraft releases approximately US$31 million in net proceeds to the Company after costs and associated debt repayments. The Company will consider the redeployment of these proceeds through the acquisition of additional aircraft in order to further diversify Avation’s portfolio.