CAPITAL LEASE AVIATION: EXTENSION OF TWO AIRCRAFT LEASES TO 2021

Capital Lease Aviation PLC, (CLA: AIM), the aircraft leasing company, has agreed to extend the leases of two of its Airbus A321-200 aircraft on lease with a major European airline.

The leases will be extended to 27 February 2021 and 31 March 2021 following the expiry of their respective current terms in 2015. Rentals remain on the typical commercial lease rates for these types of aircraft.

Jeff Chatfield, Executive Chairman of the Company said: “I am pleased to announce the substantial and lengthy extension of these two leases with one of our long-standing customers. These lease rental incomes over the next eight years will provide a substantial cash flow to the group from a historically top tier lease customer.”