Avation increases stake in Capital Lease Aviation to over 60%

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Aircraft lessor Avation is increasing its stake in Capital Lease Aviation's (CLA) issued share capital from 51.18% to 62.07%, with an acquisition of 10.7 million shares.

This follows CLA's allotment of 1.6 million new ordinary shares, Avation said in a statement.

The acquisition is conditional only on admission of the consideration shares to the official list and trading on the London Stock Exchange's main market for listed securities becoming effective, the statement added.

Avation is expecting the admission to be completed by 20 January.