Avation PLC on Thursday said it has sold a Boeing 737-800 aircraft, as it looks to transition to newer low-carbon emission planes.

The Singapore-based passenger aircraft leasing firm said that the aircraft made by Boeing Co was 13 years old and off-lease, after being repossessed from an airline in Covid-related difficulty. The aircraft was unencumbered; the sale further reduces Avation’s inventory of off-lease aircraft from four to three.

‘We are pleased to conclude the sale of this aircraft in furtherance of our desire to transition to newer low CO2 aircraft. Our transitions team successfully managed to repossess the aircraft and swiftly shop visit both engines and the airframe. This sale is in line with our management objective to transition, lease or sell any remaining off-lease aircraft by June 30,’ said Chair Jeff Chatfield.

Avation did not specify for how much it sold the aircraft.

Avation shares were trading 1.3% higher at 117.00 pence each in London on Thursday morning.

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