AVATION PLC — M&A Activity 2018

Jun 1, 2018

National Storage Mechanism | Additional information

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RNS Number : 0137Q

Avation PLC

01 June 2018

AVATION PLC

("AVAP" or "the Company")

LONG-TERM AIRCRAFT LEASE

Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that Far Eastern Air Transport Corp. of Taiwan ("FAT") has selected AVAP for the supply of one new ATR 72-600 aircraft on a twelve-year operating lease.

AVAP and FAT have entered into a conditional letter of intent for the lease of the aircraft. The aircraft will be configured to the customer's specifications and is expected to be delivered during September 2018. FAT announced its decision to Taiwanese media on 1 June 2018. The transaction is subject to completion of definitive documentation and customary conditions precedent.

ATR ORDER BOOK

The Company has now placed one out of the three remaining 2018 ATR 72 deliveries in its aircraft order book.

Jeff Chatfield, Executive Chairman, said: "Avation's strategy is to continue to diversify its lessee operator base and we welcome Far Eastern Air Transport Corp. of Taiwan as a customer. The ATR 72 is still the most popular and, on a per-seat-basis, the most fuel efficient commercial turboprop aircraft globally."

-ENDS-

More information on Avation can be seen at: www.avation.net

Enquiries:

Avation PLC - Jeff Chatfield Executive Chairman                                         +65 6252 2077

Notes to Editors:

Avation PLC is a commercial passenger aircraft leasing company, headquartered in Singapore, owning and managing a fleet of jet and turboprop aircraft which it leases to airlines across the world. The Company's customers include EVA Air, easyJet, Philippine Airlines, Air France, Air India, Condor, Flybe, Fiji Airways, Thomas Cook, Virgin Australia, Mandarin Airlines and Vietjet Air. More information on Avation is available at www.avation.net.

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