Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces the Company has expanded its operational team with a new head of commercial development, Mr Soeren Ferre. Mr Ferre will assist with commercial projects including leasing and trading aircraft.

Mr Ferre was formally the CEO at AerCap Group Services (NYSE: AER), one of the world's largest aircraft leasing companies. Soeren also held other positions at AerCap, including Head of Europe, Africa, Middle East and the Asia Pacific, Head of Asia Pacific, and Vice President of Marketing Asia Pacific. AerCap grew its portfolio from US$2 billion to US$10 billion during the 7 years Soeren worked there. Before his tenure at AerCap, Soeren was working at leading aircraft manufacturer Airbus as Sales Director Pacific and China (1997-2003) and General Manager Marketing China (1995-1997). After Aercap, he was a Strategic Advisor to the Board of Directors of APFLeet, an aircraft purchase and leasing firm. He was also a director of Avation PLC subsidiary Capital Lease Aviation PLC and non-executive chairman of Bravo Passenger Solutions, a Singaporean IT services provider to airlines. Notwithstanding this new position, he remains partner at Transport Capital Pte Ltd.

Executive Chairman Jeff Chatfield said "the Company needs to accelerate away from the Covid-19 crisis and restore growth and development in 2023, the foundations need to be established now during the industry recovery phase".