$16.3m Finance Secured and Delivery of Eleventh...

AVATION PLC AVAP 4 March 2013 AVATION PLC ("AVATION" or the "COMPANY") FINANCE SECURED IN THE AMOUNT OF $16.3M DELIVERY OF ELEVENTH ATR 72 AIRCRAFT The Directors of Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company have the pleasure of announcing that the Company has today taken delivery of its eleventh new ATR 72 aircraft, the first of a series of five new ATR 72 aircraft to be delivered in calendar 2013. This latest aircraft will be leased to the Australian carrier Skywest Airlines, which will operate the aircraft on behalf of Virgin Australia. This aircraft is the fifth ATR 72-600 type aircraft to be delivered to date to the Company. Avation has now taken delivery of a total of nine ATR 72s directly from the manufacturer, and two additional new ATR 72s from another source, making a total in-service fleet of eleven ATR 72 aircraft. This new aircraft was funded with Avation's own funds supplemented by additional commercial debt totaling USD 16.3m which has been secured at competitive commercial funding margins from a European commercial bank. Commenting today, Jeff Chatfield, Chairman of Avation said: "We are very pleased to be taking delivery of this eleventh ATR 72 aircraft, the first of five new ATR 72s due to be delivered in 2013. This addition to our fleet will contribute positively to the continuing growth of the Company's revenues and profits." ENDS Further information on Avation PLC can be seen at: www.avation.net. Avation PLC is registered in England and Wales with an Operational Headquarters in Singapore. Enquiries: Avation PLC Jeff Chatfield, Chairman +65 9735 4151 Cadogan PR Alex Walters +44 (0) 20 7839 9260 +44 (0) 7771 713 608 About Avation Avation was formed in 2006 initially to support Skywest Airlines (Australia) Pty Ltd. and was admitted to the Standard segment of the Official List of the London Stock Exchange in October 2010. The Company's main activity is an operating lessor of commercial passenger aircraft to airlines across Europe, the US and Australia. Early in 2011 the company entered into an agreement with Skywest Airlines to provide a fleet of up to eighteen new aircraft to operate along the East Coast of Australia on behalf of Virgin Australia. Avation plc