AVATION PLC: ACQUISITION OF ONE AIRBUS A320-200 AIRCRAFT

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, today announces that it has exercised a purchase option to acquire one Airbus A320-200 (the “Aircraft”) which it had previously leased from another aircraft leasing company. In turn Avation will continue to lease the Aircraft to a major regional airline.

The purchase of the Aircraft was part financed by a new senior loan on commercial terms typical of such transactions advanced by a new banker to the Company.

Commenting today, Jeff Chatfield, Executive Chairman of Avation said: “The buyout of this aircraft is in line with the Company’s strategy of purchasing newer aircraft and is evidence of the Company’s ability to attract commercial finance from a wider universe of bankers in pursuit of that strategy”.