Avation plc

June 16, 2011 02:00 ET

Avation PLC lead investor in lease of jet aircraft to Skywest

                                                                                                          16 June 2011

                                                       AVATION PLC
                                                     (the "Company")

                              Avation PLC lead investor in lease of jet aircraft to Skywest

The Company is pleased to announce its participation, as lead investor, in a consortium group of financiers to make an
operating lease loan facility of USD 2,550,000 available to a subsidiary of the Singaporean registered company Skywest
Limited ("Skywest"). The purpose of which is to acquire one Fokker 100 aircraft for operation by Skywest in Australia.

Skywest intends the aircraft to be leased to and operated by its subsidiary, the Australian airline Skywest Airlines 
Pty Ltd, under an operating lease for a period of 60 months.

The directors believe that the transaction represents an excellent opportunity for the Company to achieve a superior
return on its capital in an otherwise difficult market, especially given the short term of the loan and quality of the
lessee, the Skywest Group. The directors take responsibility for the contents of this announcement.


For further information, please contact:

Avation PLC
Jeff Chatfield, Chairman                                                     +44 7783 942 553

Company Stockbroker                                                          +44 20 7220 1690
WH Ireland Ltd

Financial Public Relations
Bishopsgate Communications
Laura Stevens/Giang Nguyen                                                   +44 207 562 3350

Website                                                                      www.avation.net

Contact Information

  • Avation plc