Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

VIRGIN AUSTRALIA CLAIMS UPDATE

Avation PLC (LSE: AVAP) the commercial passenger aircraft leasing company announces that it has been advised by the Creditors Trust that its claims against Virgin Australia and associated entities have been adjudicated by the Trustee and admitted for the combined sum of AUD 101.4 million.  

The Company anticipates that it will receive a proportional distribution from the proceeds of the Creditors Trust in due course. However, no update has been given as to the timing of such distribution nor the relevant proportion of claims to be distributed to creditors.

ENDS-

Enquiries:

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

Avation welcomes shareholder questions and comments and advises the email address is: [email protected]

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.