General Announcement::Avation Plc Leases Four New ATR 72-600 Aircraft to Braathens Regional Airways AB

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
18-Sep-2019 14:58:54
Status
New
Announcement Sub Title
Avation Plc Leases Four New ATR 72-600 Aircraft to Braathens Regional Airways AB
Announcement Reference
SG190918OTHR6LAE
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 advises that it has signed 10-year leases with Braathens Regional Airways AB for four new ATR 72-600 aircraft. The four aircraft will be delivered new at Toulouse, France during the period of the fourth quarter of 2019 and the first quarter of 2020.

The aircraft will be operated in the fleet of BRA Braathens Regional Airlines ( BRA ) which currently has a fleet of 23 aircraft and Avation understands is the second largest domestic airline in Sweden carrying approximately 2.2 million passengers annually.

Avation s Executive Chairman, Jeff Chatfield said: "We are pleased to complete these leases, placing four aircraft from our existing ATR order-book, and we welcome Braathens Regional Airways as a valued business partner. BRA is a well-respected airline in Europe. Avation has granted BRA the option to purchase the aircraft at specified intervals during the lease."

Geir Stormorken, Chairman of BRA said: "We are excited to be working with Avation PLC to add four new aircraft making our turboprop fleet all ATR 72-600."

-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.