06 December 2011
AVATION PLC
("AVATION" or the "COMPANY")
Aircraft fleet to expand
The Company is pleased to announce that it has contracted to purchase five additional ATR-72
aircraft from ATR. This will expand the total number of these aircraft for firm delivery to 13.
Furthermore, Avation has secured a further additional eight ATR72 aircraft options. The economics
of each aircraft delivery are substantially in accordance with that as previously disclosed by the
Company.
These new aircraft are be wet leased in conjunction with Australian carrier Skywest Airlines, who
will operate the aircraft in Virgin Australia colours pursuant to 10-year operating leases. The
Company has achieved price protection on all of these additional aircraft.
"We are delighted to have firmed up five additional aircraft and secured price protection on an
additional eight aircraft over the next few years. This new agreement provides a potential
delivery stream of aircraft for the next four years. The Company has entered discussions with
respect to financing the acquisition costs of these aircraft" says Chairman, Jeff Chatfield.
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ENQUIRES:
AVATION PLC 07783 942 553
Jeff Chatfield, Chairman
STOCKBROKER 020 7220 1670
Harry Ansell, WH Ireland
MEDIA 020 7562 3350
Nick Rome
Bishopsgate Communications
Avation plc