General Announcement::NEW AIRLINE CUSTOMER

Issuer & Securities

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

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
02-Mar-2023 16:23:32
Status
New
Announcement Sub Title
NEW AIRLINE CUSTOMER
Announcement Reference
SG230302OTHRI7DH
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, is pleased to announce that it has signed a lease agreement with a new airline customer in the Pacific region. The lease is for an ATR 72-600 aircraft that was repossessed in August 2022, following the default of an airline in Myanmar. The aircraft is due to be delivered to the new customer for a lease term of 24 months. This transition reduces the number of off-lease aircraft in Avation's fleet from three to two.

Avation's Executive Chairman, Jeff Chatfield said: "We are pleased to place this aircraft on lease to a new customer. Delivery will occur in the next few weeks. The management remains confident of placing or selling the two remaining unutilised aircraft before 30 June 2023."


ENDS

Enquiries:

Avation PLC Jeff Chatfield, Executive Chairman +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.