Capital Lease Aviatn - Acquisition Of Airbus A320
RNS Number:7937Q
Capital Lease Aviation PLC
26 March 2008
26 March 2008
Capital Lease Aviation PLC
("CLA")
ACQUISITION OF AIRBUS A320 AIRCRAFT
The Board of CLA, the AIM quoted aircraft leasing company, advises that it has
completed the purchase of an A320 jet aircraft from a US based Trust company
which is under lease to a major US domestic airline.
HIGHLIGHTS
• CLA has paid US$12.15m for the aircraft;
• CLA's representatives conducted a technical assessment of the aircraft
and its engines and associated technical records which were reported to be
entirely satisfactory;
• The aircraft is leased until 2013 to a large domestic US carrier at
current market lease rates with an option to renew at the then prevailing
market rates; and
• CLA paid the purchase price from existing cash reserves and intends to
leverage the ownership of the asset when required to match the term of the
lease.
The Executive Chairman, Mr Jeff Chatfield, said:
"This A320 acquisition is in line with CLA's strategy to diversify both its
asset and customer base. The A320 type is highly sought-after by airlines
around the world and is in demand at the moment. CLA remains focussed on
securing and leasing a diversified range of quality aircraft assets for the
benefit of its shareholders."
---ENDS---
Enquiries:
CAPITAL LEASE AVIATION PLC
Jeff Chatfield, Executive Chairman 07783 942 553
STOCKBROKERS
WH Ireland Limited 020 7220 1670
MEDIA
Maxine Barnes, Nick Rome & Nick Farmer
Bishopsgate Communications 020 7562 3350
NOMINATED ADVISER
James Joyce, David Porter
WH Ireland Limited 020 7220 1666
Notes to Editors - About CLA
CLA was incorporated by Avation on 6 June 2007 with the purpose of owning and
leasing a portfolio of commercial jet aircraft to a wider customer base of
regional and international airlines.
The Directors have identified a trend in the commercial aviation sector towards
"leasing-in" capacity whereby airlines lease part of their fleet rather than
purchasing aircraft, and the Directors intend that CLA will exploit this trend
in the future.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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