Avation plc
LSE : AVAP

February 17, 2014 02:31 ET

CORRECTION FROM SOURCE: Obtains senior secured revolving warehouse facility

Marketwire: AVAP
                                                                                          February 17, 2014
                                                     
                                                AVATION PLC
                                              (the 'Company')
                                                     
                            Obtains senior secured revolving warehouse facility

Avation  PLC  (LSE: AVAP), the commercial passenger aircraft leasing company, announces that  it  has  been
successful  in obtaining a further finance facility to support future aircraft acquisitions.  The  facility
has  been  designed  to  support  the ad-hoc purchase of an aircraft when  suitable  opportunities  present
themselves

Salient key features of the warehouse facility are:

    -   The  facility has been provided by a major European Bank and is a facility to provide  a  full
        recourse, senior secured, revolving warehouse facility to provide partial short term funding for the
        purchase of particular aircraft (the "Facility");
    -   The Facility is a revolving facility which allows drawings and then re-drawings over a three year
        period;
    -   The Facility will typically be used for one aircraft at a time;
    -   Drawings used to acquire aircraft have a two year repayment term;
    -   The Facility interest margin is priced at usual commercial terms;
    -   The Facility can be drawn to $20m in any instance;
    -   Drawings may be applied up to 75% of the agreed value of the aircraft purchased. This percentage
        is adjusted depending upon age of aircraft and ranking of airline leasing the aircraft purchased;
    -   The Facility is secured by the aircraft purchased;
    -   The typical aircraft for use of proceeds include:
            o       ERJ 190-95;
            o       ATR 500 and 600;
            o       Boeing 737-700 and 737-800 NG and max;
            o       Airbus A319, A320 and A321 CEO and NEO;
            o       Airbus A330; and
            o       Boeing 777.

Jeff  Chatfield,  Executive Chairman, said: "We are continually seeking to acquire aircraft  and  assessing
aircraft leased to commercial airlines. The warehouse facility is a pre-approved finance line thus enabling
the  purchase  of a target aircraft within a short timeframe. Once acquired the aircraft can  then  be  re-
financed in the more traditional manner. This process will assist Avation to quickly secure the aircraft on
a case by case basis in order to produce optimal long term returns to its shareholders."

                                                  -ENDS-

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

Enquiries:

Avation PLC                                                                                                
Jeff Chatfield, Executive Chairman                                                            +65 973514151
                                                                                                           
W H Ireland                                                                                                
Harry Ansell / James Joyce                                                                 +44 20 7220 1666
                                                                                                           
Liberum Capital Limited                                                                                    
Chris Bowman / Richard Bootle                                                              +44 203 100 2222
                                                                                                           
Blythe Weigh Communications                                                                                
Tim Blythe / Eleanor Parry                                                                 +44 207 138 3204









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