REDEMPTION OF 7.5% SENIOR NOTES DUE 2020

AVATION PLC

("AVAP" or "the Company")

REDEMPTION OF 7.5% SENIOR NOTES DUE 2020

Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that, following the settlement and funding of US$300 million 6.5% senior notes due 2021 issued recently under its global medium term note programme ("GMTN Programme"), it has now issued a redemption notice for US$150 million of the 7.5% senior notes due 2020 ("Notes due 2020") which represents the entirety of the first tranche of notes issued under the GMTN Programme.

The redemption will become effective on 27 May 2018 with payment to noteholders being made on 29 May 2018, in accordance with the terms of the GMTN Programme. Following redemption there will be no Notes due 2020 outstanding.

-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.