Commercial passenger aircraft leasing company Avation PLC has released an update on its aircraft fleet metrics. As of 31 March, Avation had 37 aircraft in its fleet, with an average fleet age of 4.5 years and remaining lease term of 6.7 years.
The Company's Executive Chairman, Jeff Chatfield, said: "The Company has delivered a series of brand new aircraft to airlines during 2016; these aircraft have added scale and also improved the age and lease term metrics.
“The weighted average age of the fleet has been reduced to 4.5 years with remaining weighted average lease term increasing to 6.7 years."
Avation PLC manages a fleet of jet and turbo prop aircraft which it leases to airlines across the world.
The Company's customers include Thomas Cook, Air France, Condor, Air Berlin, Virgin Australia, Fiji Airways and UNI Air. Avation is the second largest lessor customer of ATR aircraft globally.