Avation PLC is a commercial passenger aircraft leasing company with airline customers around the world.[1]

Avation PLC
TypePublic
LSEAVAP
IndustryAircraft Leasing
Founded2006 (2006)
FounderJeff Chatfield
Headquarters
Websitewww.avation.net

Avation is publicly owned and is listed on the Main Market of the London Stock Exchange (LSE:AVAP)[2] and is headquartered in Singapore.[3] Capital Lease Aviation Limited is a wholly owned subsidiary of Avation PLC.[4]

HistoryEdit

 
F-HBNI Air France Airbus A320-214 owned by Avation landing at Schiphol (EHAM-AMS) runway

Avation was founded in 2006 by Jeff Chatfield.[5] The company was originally formed via a special dividend from Skywest Airlines Ltd with shares distributed in specie to all of the then Skywest Airlines Ltd shareholders.[6]

The company was initially a narrow-body jet lessor which leased Fokker 100 and Airbus A320/A321 aircraft to Skywest Airlines Ltd and other airlines. In 2011 the Company ordered its first ATR72 aircraft and leased them to Skywest Airlines Ltd.[7] On 11 April 2013 Virgin Australia Holdings completed its 100% acquisition of Skywest Airlines Ltd.[8]

Since the Virgin Australia acquisition of Skywest Airlines Ltd, Avation has continued to grow organically as an independent aircraft leasing company. The Company developed its portfolio through a turboprop order book with ATR[9] and has steadily added narrow-body [10][11] and wide-body[12][13] aircraft to its fleet. To fund these acquisitions Avation has issued bonds [14] and shares [15] on the London Stock Exchange.

In December 2019 Avation PLC procured the World's first certified aircraft green loan for a new commercial aircraft from Deutsche Bank.[16][17] Sustainability indicator has been independently verified by the agency Vigeo Eiris.

AwardsEdit

In May 2019, Airfinance Journal[18] awarded Avation together with Air Baltic the 'Operating Lease Deal of the Year 2018'.[19][20]

In January 2020, Avation PLC was awarded with the 'Aviation 100 European Editor's Deal of the Year for Innovation 2019'[21] for financing new ATR 72-600 aircraft to Braathens Regional Airlines with the first green loan in aviation.

ReferencesEdit

  1. ^ "Bloomberg - Company Overview of Avation PLC".
  2. ^ "AVATION share price (AVAP) - London Stock Exchange".
  3. ^ "Company Overview of Avation PLC".
  4. ^ "Bloomberg - Company Overview of Capital Lease Aviation Limited".
  5. ^ https://www.avation.net/files/061126Press_ava_tradePlus.pdf[bare URL PDF]
  6. ^ https://www.avation.net/files/081111_avap_AR08.pdf[bare URL PDF]
  7. ^ "ATR Aircraft".
  8. ^ "ASX- Virgin Australia completes the acquisition of Skywest" (PDF).
  9. ^ "Avation places $130 million aircraft order with ATR". Reuters. 16 February 2016.
  10. ^ "Avation on course for record profits as growth drive continues". 3 January 2019.
  11. ^ "Singapore's Avation Bets on ATR with Growing Regional Market". Smart Aviation Asia-Pacific. 7 February 2019. Retrieved 12 February 2019.
  12. ^ "Boeing, Avation PLC Deliver Philippine Airlines' 10th 777-300ER".
  13. ^ Boeing. "Boeing, Avation PLC Deliver Philippine Airlines' 10th 777-300ER". www.prnewswire.com. Retrieved 12 February 2019.
  14. ^ "DLA Piper advises Avation PLC on US$50 million Tap Issue | News | DLA Piper Global Law Firm". DLA Piper. Retrieved 12 February 2019.
  15. ^ "FE Investegate |Avation PLC Announcements | Avation PLC: Issue of Equity". investegate.co.uk. Retrieved 12 February 2019.
  16. ^ "Singapore firm Avation buys plane with $30 million green loan".
  17. ^ "Singapore firm Avation buys plane with 20m euro green loan".
  18. ^ "Airfinance Journal Awards 2018 winners".
  19. ^ "Avation's airBaltic deal wins 'Operating Lease Deal of the Year 2018' from AirFinance Journal".
  20. ^ "AirBaltic wins AirFinance journal's operating lease deal of the year 2018 award".
  21. ^ "Aviation 100 Global Leaders Awards 2020".{{cite web}}: CS1 maint: url-status (link)