Avation secures $24 million PDP and inks sale-leaseback with Thomas Cook

Avation has secured a $16 million Pre-Delivery Payment (PDP) finance facility from a major European Bank. The use of funds is to finance PDPs for two new A32-200s, which will be delivered in February and March 2016 and leased to Thomas Cook for a period of 12 years. This is Avation’s first PDP financing program. The Company has already invested US$ 8.2m in the aircraft transaction with the additional US$16m PDP facility provided by major European Bank. Jeff Chatfield, Executive Chairman, said: “We continually seek to acquire aircraft with a wide range of finance solutions. The establishment of the PDP