Avation plc

June 04, 2013 06:33 ET

Acquisition of ATR72 and Airbus A321 Aircraft


                                                                                                4 June 2013
                                                AVATION PLC
                                              (the "Company")

                               Acquisition of ATR72 and Airbus A321 Aircraft

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company announces the acquisition of  an
additional new ATR 72-600 series aircraft to its fleet. The aircraft was accepted by Avation on the 31st of
May  at  ATR's  manufacturing facility in Toulouse, France. This is the sixth ATR 72-600  to  be  added  to
Avation's fleet and is the Company's twelfth new ATR 72.

This latest aircraft is leased to the Australian carrier Virgin Australia Regional Airlines, added pursuant
to  the  Australian  Regional  Airline Network (ARAN) agreement to supply a  fleet  of  new  aircraft.  The
acquisition  was  financed by the Company from its existing cash resources, including senior  secured  debt
provided by an export credit agency.

Furthermore, Avation's subsidiary, Capital Lease Aviation PLC (LSE: CLA), has acquired an additional Airbus
A321  on lease to Thomas Cook subsidiary, Condor Flugdienst GmBH of Germany. The aircraft was acquired from
another lessor and is leased to Condor until 29 April 2018. The aircraft variant is an Airbus A321-200 with
CFM56-5B3/P  engines  and was manufactured in December 2001. The aircraft is registered  in  Germany.  This
aircraft  was  financed  with commercial senior secured debt, which runs a term  contemporaneous  with  the
lease, and junior unsecured debt.

Avation  PLC's  Executive  Chairman, Jeff Chatfield said "We are continuing our  strategy  of  rapid  fleet
expansion. Our overall group fleet now stands at 23 modern commercial passenger aircraft. We are pleased to
have a firm delivery pipeline of new aircraft until December 2014 that, based on current orders, will see a
fleet increase of 35 per cent by the end of 2014."

The Company is not planning to issue any additional equity at this time.

                                               --- ENDS ---


Avation PLC:                                                                  
Jeff Chatfield (Executive Chairman)                                                            +65 9735 4151

Liberum Capital Limited:                                                                                    
Chris Bowman / Richard Bootle                                                               +44 203 100 2222

W H Ireland Limited:                                                                                        
James Joyce                                                                                 +44 207 220 1666

Blythe Weigh Communications                                                   
Tim Blythe, Rob Kellner, Eleanor Parry                                                      +44 20 7138 3204

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