SALE OF ATR AIRCRAFT FROM ORDERBOOK

Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

SALE OF ATR AIRCRAFT FROM ORDERBOOK

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, is pleased to announce the concurrent delivery and sale of a new ATR 72-600 aircraft to an airline in the Caribbean region. This aircraft is the second sale of a series of two aircraft originally announced in May 2024. The profitable sale of this aircraft releases around US$5 million in net cash proceeds. 

Following this sale Avation has ten aircraft on order from ATR for delivery between the fourth quarter of 2025 and second quarter of 2028 and purchase rights to acquire up to 24 additional new ATR 72-600 aircraft.

Jeff Chatfield, Executive Chairman of Avation PLC, said: "The Company is pleased to have closed another profitable sale transaction, illustrating the continued strength in the market for ATR turboprop aircraft and the value in Avation's orderbook and purchase rights. Avation is primarily an aircraft lessor but agreed to sell this aircraft due to opportunistic timing and attractive transaction economics. The net proceeds may be used by the company to continue to deleverage."

-ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive Chairman +65 6252 2077

Avation welcomes shareholder questions and comments and advises the email address for questions is: [email protected] and the Company provides an investor Q & A during the conference call associated with release of results. The head office telephone number is +65 6252 2077.

Notes to Editors: Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world. More information on Avation is available at www.avation.net.

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