| Avation PLC | |
| Type: | Public |
| Industry: | Aircraft Leasing |
| Founder: | Jeff Chatfield |
| Location Country: | Singapore |
Avation PLC is a commercial passenger aircraft leasing company with airline customers around the world.[1]
Avation is publicly owned and is listed on the Main Market of the London Stock Exchange (LSE:AVAP)[2] and is headquartered in Singapore.[3] Capital Lease Aviation Limited is a wholly owned subsidiary of Avation PLC.[4]
Avation was founded in 2006 by Jeff Chatfield.[5] The company was originally formed via a special dividend from Skywest Airlines Ltd with shares distributed in specie to all of the then Skywest Airlines Ltd shareholders.[6]
The company was initially a narrow-body jet lessor which leased Fokker 100 and Airbus A320/A321 aircraft to Skywest Airlines Ltd and other airlines. In 2011 the Company ordered its first ATR72 aircraft and leased them to Skywest Airlines Ltd.[7] On 11 April 2013 Virgin Australia Holdings completed its 100% acquisition of Skywest Airlines Ltd.[8]
Since the Virgin Australia acquisition of Skywest Airlines Ltd, Avation has continued to grow organically as an independent aircraft leasing company. The Company developed its portfolio through a turboprop order book with ATR[9] and has steadily added narrow-body [10] [11] and wide-body[12] [13] aircraft to its fleet. To fund these acquisitions Avation has issued bonds [14] and shares [15] on the London Stock Exchange.
In December 2019 Avation PLC procured the World's first certified aircraft green loan for a new commercial aircraft from Deutsche Bank.[16] [17] Sustainability indicator has been independently verified by the agency Vigeo Eiris.
In May 2019, Airfinance Journal[18] awarded Avation together with Air Baltic the 'Operating Lease Deal of the Year 2018'.[19] [20]
In January 2020, Avation PLC was awarded with the 'Aviation 100 European Editor's Deal of the Year for Innovation 2019'[21] for financing new ATR 72-600 aircraft to Braathens Regional Airlines with the first green loan in aviation.