08/10/2008
Singapore-based Capital Lease Aviation says it has obtained a further US $100 million finance facility towards buying new planes.
The AIM-quoted company, which specialises in leasing commercial jet aircraft to regional airlines and made £1.1 million pre-tax in the year to June, says a ‘major European bank’ has provided this full-recourse revolving facility to help buy new-generation Airbus and Boeing-leased aircraft. Arguing that present ‘aircraft valuations are in the process of dropping to a point highly advantageous to buyers’, CLA’s Australian chairman Jeff Chatfield claims now presents ‘the best opportunity since 2001’ for long-term investors to make ‘highly attractive returns’.
Unchanged at 77.5p, CLA shares value the company at £76 million.
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