The Avation PLC’s strategy is to own a balanced portfolio of regional and modern commercial narrowbody aircraft.
Avation PLC, a commercial passenger aircraft leasing entity, has announced the divestiture of two ATR 72-600 aircraft to Danish Air Transport (“DAT”). These aircraft were acquired by Avation PLC in 2018 and previously leased to DAT under agreements that included purchase options. DAT has exercised these options, resulting in the finalization of the sales.
The transaction was executed at book value, resulting in net cash proceeds of approximately $10 million, after the repayment of associated bank loans.
Executive Chairman, Jeff Chatfield,Avation PLC said, “We are pleased to have successfully concluded these aircraft sales to our longstanding customer DAT. The Company’s strategy is to own a balanced portfolio of regional and modern commercial narrowbody aircraft, exiting these two ATR aircraft is aligned with that strategy.”
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This sale aligns with Avation PLC’s strategic objective to maintain a balanced portfolio of regional and modern commercial narrowbody aircraft, as part of its broader asset management strategy.
