General Announcement::LEASE TERMINATIONS

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
06-Mar-2020 16:11:09
Status
New
Announcement Sub Title
LEASE TERMINATIONS
Announcement Reference
SG200306OTHRA9JR
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) the commercial passenger aircraft leasing company, announces that it has terminated the leases for two ATR 72-600 aircraft with Flybe Limited ("Flybe"). The Company holds security deposits and maintenance reserves from Flybe in relation to the aircraft.

Both aircraft were sub-leased to Loganair Limited ("Loganair") in February this year and therefore Loganair is the current operator of record. The Company has exercised its rights to step into the sub-lease with Loganair who will become a direct customer of Avation from today. The sub-leases are on market-standard terms for aircraft of this type and age.

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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 airlines around the world.
More information on Avation is available at www.avation.net.