Source - SMW
Commercial passenger aircraft leasing company Avation's fleet size has increased from 31 to 38 aircraft in the year to the end of September.

The weighted average age of the fleet is 3.2 year compared with 5.4 years a year ago and remaining lease term is 7.4 years compared with 5.9 years at the end of September 2015.

Fleet utilisation is 100%.

Executive chairman Jeff Chatfield said:  "The company has purchased and delivered a series of factory new aircraft to airlines during 2016, has sold off mid-life aircraft and has continued to improve average age and lease term metrics. 

"Contracted unexpired lease revenue for the fleet, as at 30 September 2016, totals US$ 752.5 million (30 September 2015: US$550.6 million). Avation seeks to maintain a fleet of aircraft assets with a low average age and long average remaining lease term."

At 9:37am: (LON:AVAP) Avation Plc share price was +1p at 152p