Singapore-based lessor Avation has entered into an agreement to sell one of its Airbus A321s to an unidentified Asian buyer.

The company states in a stock exchange disclosure that the aircraft is 23 months old.

Flight Fleets Analyzer shows that the age corresponds to MSN 7427, which is powered by CFM International CFM56 engines and is one of five A321s leased to VietJet Air. Tamwheel Aviation Finance is listed as the financier.

“We are selling this aircraft purely for risk management and portfolio diversification reasons. The sale is in order to reduce financial exposure to one operator and jurisdiction,” says executive chairman Jeff Chatfield.

While not disclosing the value of the transaction, he adds that it is in-line with current market values for the aircraft, “albeit that Avation’s book value for the aircraft is materially lower than CMV due to an advantageous initial purchase.”

Subject to lease novation and the usual closing conditions, the sale is expected to close this month.

Source: Cirium Dashboard