Avation new operating lease for an Airbus A320

Avation plc

Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, has announced that it has entered into a new operating lease for an Airbus A320 aircraft with Philippines low-cost carrier, Cebu Pacific. The market rate lease is for a term of four years and is on Avation’s typical lease terms. The aircraft is currently being returned by the previous operator and is scheduled for delivery to Cebu Pacific in December 2023, following scheduled periodic maintenance checks.

Cebu Pacific operate a substantial route network to over 60 domestic and international destinations in Australia, Brunei, China, Hong Kong, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, UAE and Vietnam. Cebu operates a modern fleet of Airbus A330 family, Airbus A320 family as well as ATR 72-600 aircraft, and according to its public statements offers the most seats of any airline in the Philippines with the country’s youngest fleet. The Philippines low-cost carrier recently reported the second consecutive profitable quarter since the pandemic and a recovery to 50% of its pre-pandemic operating income in 2019.

Avation Executive Chairman, Jeff Chatfield said: “We are pleased to have secured a new lease for this aircraft and delighted to placed it with an existing customer, Cebu Pacific. This transaction demonstrates the Avation platform’s capacity to transition aircraft to quality lessees and our ability to leverage the relationships we have with existing customers. Once the aircraft is delivered in December 2023 this lease will positively impact our fleet metrics.”

 Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world.

We’ll keep you in the loop!

Join 1,000's of investors who read our articles first

We don’t spam! Read our privacy policy for more info.

Share on:
Find more news, interviews, share price & company profile here for:

Avation completes sale of Boeing 777-300ER at profit above book value

Avation has finalised the sale of a Boeing B777-300ER leased to Philippine Airlines, generating a material profit above book value. The transaction releases significant cash, which will be used to reduce debt and reinvest in narrowbody aircraft types as part of the company’s portfolio management strategy.

Avation reports US$110m revenue and strengthened balance sheet for FY25

Avation expects revenue of around US$110 million for the year to 30 June 2025. The company has reduced outstanding bond debt to US$298 million through repurchases and improved its credit ratings with Moody’s and Fitch.

Avation signs 12-year lease for ATR 72-600 with Cambodian airline

Avation has agreed a twelve-year lease with a Cambodian carrier for a new ATR 72-600, the second of ten aircraft ordered in 2024. Delivery is scheduled for February 2026.

Avation to deliver first ATR 72-600 to SUM Air in November 2025

Avation confirmed that one of ten ATR 72-600 aircraft ordered in 2024 will be delivered in November 2025, becoming the first aircraft in SUM Air’s fleet.

Avation Plc receives ‘B’ rating from Fitch

Avation, the Singapore-based aircraft leasing company, has been assigned a 'B' long-term issuer default rating by Fitch Ratings.

Avation reports robust trading update, secures B1 rating

Avation has been assigned a first-time B1 Corporate Family Rating and B2 issuer rating by Moody’s, with a stable outlook.

Search

Search