Commercial passenger aircraft leasing company Avation has completed the purchase of a A320-200 aircraft which it had previously leased from another aircraft leasing company.

The aircraft is owned by MSN 429 Leaseco, a new subsidiary of the company which was established for the purpose.

The purchase was completed using the company's existing financial resources.

Avation's fleet now stands at a total of 19 commercial passenger aircraft.

According to the group, it will continue to lease the aircraft to a major Australian regional airline for an extended term of four years.

Commenting today, Jeff Chatfield, Chairman of Avation said: "The purchase of this Airbus A320-200 delivers additional assets to the group and will ensure that the company's revenue position will continue to move in a positive direction."

MF

Related share prices
Avation (AVAP) share price