Avation continues A320 acquisition strategy

Source: Flightglobal.com
This story is sourced from Flightglobal.com

Aircraft operating lessor Avation has exercised a purchase option to acquire an Airbus A320 aircraft.

The Singapore-based lessor, which confirm the deal, says the aircraft had been previously leased from another leasing company.

Avation says it financed the acquisition with a senior loan provided by a "new" bank to the group.

"The buyout of this aircraft is in line with the strategy of purchasing newer aircraft and is evidence of the company’s ability to attract commercial finance from a wider universe of bankers in pursuit of that strategy," Jeff Chatfield, executive chairman of Avation.

The transaction follows the purchase of two A320s earlier this year. One aircraft (MSN 1922) is a 2002-vintage ex-British Airways A320 purchased from BOC Aviation.

The second aircraft, a 1993-vintage A320, was acquired in January. Ascend says the aircraft (MSN 0429) was acquired from Orix Aviation and is on lease to Skywest Airlines (Australia).

Flightglobal’s Ascend Online database shows that Avation has three A320s in its portfolio.