AVATION: NEW GEOGRAPHY AND NEW CUSTOMER FOR AIRCRAFT

The Directors of Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announce that the Company has purchased and taken delivery of a new ATR 72 aircraft from the factory. The Company has leased the aircraft to UNI Airways Corporation, the largest regional domestic airline in Taiwan.

UNI is a new lessee for Avation.

This brings to 18 the total number of new ATR 72 aircraft delivered to the Company to date.

Commenting today, Jeff Chatfield, Chairman of Avation, said: “Consistent with our strategy of diversifying the customer base and geography for our leased aircraft we are pleased to announce this new client and expansion into North Asia. The client is of good credit quality and the transaction has been structured to deliver the lowest cost of finance to date.”