Avation PLC : Expansion of Aircraft Fleet-Exercise of 3 additional ATR 72-600 Options

Avation Plc (LSE: AVAP) the aircraft procurement and leasing company is pleased to announce that following a confirmation from Virgin Australia of its desire for an additional three ATR 72-600 aircraft to be made available to it throughout the course of 2014, the Company will exercise aircraft purchase options to acquire three new additional ATR 72-600 aircraft for this purpose.

This will expand the total number of ATR 72 aircraft for firm delivery to 16 aircraft.

It is intended that these aircraft be made available to Virgin Australia in substantially the same form, lease terms and lease structure as the Company’s current fleet of ATR 72-600 aircraft.