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Avation PLC - Singapore-based commercial aircraft leasing company - Completes sale of one Boeing B777-300ER, currently on lease to Philippine Airlines. Says it decided to divest the asset to capitalise on favourable market conditions. Notes that the sale has generated ‘material profit above book value,’ with significant cash released post transaction. ‘We are pleased to conclude this sale for risk reduction and portfolio management purposes. This aircraft type is an out of production aircraft and it is prudent to trade the aircraft in these market conditions. We aim to reduce debt and opportunistically re-invest the cash proceeds from this transaction into narrowbody asset types,’ says Executive Chair Jeff Chatfield. Current stock price: 165.50 pence 12-month change: up 24% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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