October 3, 2016 / 6:15 AM / a year ago

BRIEF-Fastjet sells its A319 as part of fleet downsizing plan

Oct 3 (Reuters) - Fastjet Plc

* Consideration is being satisfied in cash for usd8.0 million with a 10% deposit payable on signature of agreement and balance on delivery.

* Sale of our airbus a319 is an important step in our stabilisation plan and our move towards a more appropriate size of fleet

* Entered into a binding sale agreement with avtrade limited, of its sole owned airbus a319

* Included in agreement is an option to continue to operate aircraft from oct 3 to oct 17 2016 with a reduction in proceeds of $200,000 for a usage of up to 100 cycles. Source text for Eikon: Further company coverage: (Reporting By UK Bureau)

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