Avation plc

April 08, 2010 06:39 ET

Acquisition and Finance of Aircraft

                                                       April 8, 2010

                                            AVATION PLC
                                   ("AVATION" or "THE COMPANY")

                                ACQUISITION AND FINANCE OF AIRCRAFT

The  Company  is  pleased  to announce that it has completed acceptance for  one  Airbus  A320-200
aircraft. The completion occurred pursuant to the Announcement made on the 8th of January 2010.

The  aircraft has been successfully leased to Skywest Airlines Pty Ltd and is enroute from the  UK
to Australia to enter service. The lease terms for the aircraft are USD $190,000 per month with an
initial term of 36 months.

The  Company has paid all deposits and is enjoying a finance lease in respect to the aircraft with
vendor finance of USD 7.8m in respect of the remaining balance of USD $8.6m and anticipates paying
for the aircraft in full in the ordinary course of business.

Chairman  Jeff Chatfield said "We are pleased to have the opportunity to obtain this  aircraft  on
attractive finance terms to us in strengthening the Company's balance sheet further and broadening
our fleet"

The Directors take responsibility for the contents of this announcement.



AVATION PLC                                                         07783 942 553
Jeff Chatfield, Chairman

ADVISOR                                                             020 7628 1128
Dr Frank Lucas, Loeb Aron & Company

MEDIA                                                               020 7562 3350
Nick Rome, Will Tindall
Bishopsgate Communications

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