RNS Number : 6485R

Avation PLC

02 March 2023

Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

NEW AIRLINE CUSTOMER

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, is pleased to announce that it has signed a lease agreement with a new airline customer in the Pacific region. The lease is for an ATR 72-600 aircraft that was repossessed in August 2022, following the default of an airline in Myanmar. The aircraft is due to be delivered to the new customer for a lease term of 24 months. This transition reduces the number of off-lease aircraft in Avation's fleet from three to two.

Avation's Executive Chairman, Jeff Chatfield said: "We are pleased to place this aircraft on lease to a new customer. Delivery will occur in the next few weeks. The management remains confident of placing or selling the two remaining unutilised aircraft before 30 June 2023."

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Enquiries:

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

Avation welcomes shareholder questions and comments and advises the email address is: investor@avation.net

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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