General Announcement::ENGINE LEASE BUSINESS COMMENCES

Issuer & Securities

Issuer/ Manager
AVATION CAPITAL S.A.
Securities
AVATIONCAP US$300M6.5%210515A - US05351CAA53 - 8ULB
AVATIONCAP US$300M6.5%210515R - USL56473AA67 - 8UMB
AVATIONCAP US$50M6.5%210515RT - USL56473AB41 - PHMB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
26-Feb-2020 21:57:49
Status
New
Announcement Sub Title
ENGINE LEASE BUSINESS COMMENCES
Announcement Reference
SG200226OTHRQPDA
Submitted By (Co./ Ind. Name)
Duncan Scott
Designation
Group General Counsel
Description (Please provide a detailed description of the event in the box below)
AVATION PLC (LSE:AVAP) Avation advises that it has entered the aircraft engine lease business and has established its first engine lease. The Company has signed an operating lease with Transportes Aeromar, S.A. de C.V. (Aeromar Airlines) for a Pratt and WhitneyPW127M engine.

The engine will be operated in support of the fleet of Aeromar Airlines which currently has 10 ATR aircraft serving 25 routes from Mexico City.

Avation's Executive Chairman, Jeff Chatfield said: "Engine leasing is a new business initiative which we are exploring. Weand also our airline clients occasionally lease engines when needed, we see this is a valued added business line which certain airline clients may find useful."

-ENDS-

Enquiries:

Avation

Jeff Chatfield, Executive Chairman T: +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.