Avation completes sale of Airbus airplane to Asian buyer

Avation PLC (AVAP: LSE), a Singapore-based aircraft leasing company, has announced it has finalized the sale of a single two-year old Airbus A321 aircraft to an Asian buyer, the company said.

Terms of the transaction were not disclosed.

Avation said the company´s book value for the aircraft was lower than the current market value.

Avation said the sale of the aircraft was for risk management and portfolio diversification reasons and targeted a reduction of financial exposure to one operator and jurisdiction.

Avation PLC is a commercial passenger aircraft leasing company that owns and manages a fleet of commercial passenger aircraft which it leases to international airlines across the globe.