By Anthony O. Goriainoff
Avation PLC said Wednesday that it has begun responding to requests for proposals to finance new aircraft for the first time since the start of the coronavirus pandemic as airlines start to increase capacity following the easing of travel restrictions stemming from Covid-19.
The commercial-passenger-aircraft leasing company said it has also restarted the search for aircraft acquisitions from airlines and other lessors.
London-listed Avation said it was concluding the transition of an Airbus A320 from Air France to a new client, and that it expects to take re-delivery of a Boeing 737-800 from Garuda Indonesia in the coming weeks. The company said these aircraft may be sold or leased depending on market demand, and that it was also remarketing two ATR72-600 aircraft that are at the end of lease from Scottish regional airline, Loganair. It said the next aircraft due to come off lease aren’t scheduled to do so until March 2023.
The company said it expects cash inflows for the remainder of the year ending June 30, 2022 to be boosted through the settlement of aircraft sales, collections from the insolvency proceedings and restructuring related to Virgin Australia and Philippine Airlines, among other things.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
