AVATION: COMPLETION OF SALE OF AIRCRAFT

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, has formally completed the sale of an ATR72–600 aircraft being the first completion of the sale of two aircraft announced on 20 November 2013.

The aircraft was acquired pursuant to the exercise of an option. This aircraft is being sold new to a third party immediately following delivery to the Company from the Manufacturer, Avions de Transport Régional (ATR) and will be operated by a new airline in Myanmar.

This sale is consistent with the Company’s desire to maximise the value of its aircraft delivery pipeline and a desire to assess the merits of each and every lease and disposal opportunity on a case by case basis.