Fleet Expansion
01 10월 2007 - 4:01PM
UK Regulatory
RNS Number:7980E
Advent Air Limited
01 October 2007
For immediate release
1 October 2007
ADVENT AIR LTD
("Advent Air" or the "Company")
Twelfth Aircraft for Skywest
The Company announces Skywest Airlines ("Skywest") has leased a further Fokker
100 jet bringing its aircraft fleet to twelve.
HIGHLIGHTS
* The lease agreement is with a subsidiary of Avation PLC (AVAP.PZ) with
lease rate at approximately USD $1.18m per year plus reserves;
* The term of the lease is 60 months, at handback, Skywest is to ensure
that the aircraft will possess a certificate of airworthiness that is valid for
at least 3,000 flight hours.
The new lease by Skywest of the Fokker 100 aircraft is being treated as a
related party transaction under the AIM Rules. The independent directors of
Advent, comprising the non-executive directors being John Jost and Seah Kian
Peng having consulted the Company's Nominated Adviser, have considered the new
lease of the Fokker 100 aircraft from the Avation subsidiary (the "Transaction
"), and consider that the terms of the Transaction are fair and reasonable
insofar as the shareholders of Advent Air are concerned.
Jeff Chatfield, chairman of Advent Air says: "The additional two jets enable
Skywest to increase its level of operations and continue with the extraordinary
growth the company is experiencing. The additional aircraft will facilitate
increased services, additional routes, (including the much anticipated
Kalgoorlie to East Coast service), and further expansion into the resource
sector.
"Skywest is now in a great position to further capitalise on the significant
growth opportunities in the mining and resource sector all over Western
Australia. Additionally, these aircraft will enable an increase in operations to
our key routes of Exmouth, Kalgoorlie, Broome and Darwin. Skywest is also on
schedule to introduce a sixth jet to its fleet in March 2008."
ENQUIRES:
Advent Air Ltd 07783 942 553
Jeff Chatfield, Chairman
Nominated Advisor 0207 220 1666
James Joyce/David Porter, W H Ireland Limited
Stockbroker
W H Ireland Limited 0207 220 1690
Financial Public Relations
Bishopsgate Communications 0207 562 3350
Maxine Barnes
Nick Rome
Websites:
www.advent.com.sg
www.skywest.com.au
This information is provided by RNS
The company news service from the London Stock Exchange
END
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