("Avation" or "the Company")
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company announces entering to two agreements to purchase and lease two additional factory new Airbus A321-200 aircraft to Vietjet, the leading domestic and international new-age carrier of Vietnam.
These transactions are entered into pursuant to the exercise by Avation of an option along with an additional aircraft position. The aircraft are to be equipped with CFM International CFM56-5B3/3 engines and seating for 230 passengers, the highest seat density of an Airbus A321-200. They are expected to be delivered before during the 2016 calendar year. They will be employed by Vietjet on its expanding route network of domestic and international destinations from multiple bases in Vietnam. The long term operating lease terms are typical for an aircraft of this type.
More information on Avation can be seen at: www.avation.net
Jeff Chatfield, Executive Chairman
T: +65 6252 2077
Notes to Editors:
Avation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turbo prop aircraft, which it leases to airlines across the world. The Company's customers include Vietjet, Thomas Cook, Air France, Condor, Air Berlin, Flybe, Scandinavian Airlines, Air India, Virgin Australia, Fiji Airways and UNI Air.
Vietjet is the first airline in Vietnam to operate as a new-age airline with low-cost and diversified services to meet customers' demands. It provides not only transport services but also uses the latest e-commerce technologies to offer various products and services for consumers.
Currently, the airline boasts a fleet of 40 aircraft, including A320s and A321s, and operates 300 flights each day. It has already opened 53 routes in Vietnam and across the region to international destinations such as Thailand, Singapore, South Korea, Taiwan, China and Myanmar. It has carried nearly 25 million passengers to date.
This information is provided by RNS