AVAP Avation Plc

TIDMAVAP

RNS Number : 6857R

Avation PLC

30 October 2023

Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

SALE OF ATR 72-500 AIRCRAFT

Avation PLC (LSE: AVAP) the commercial passenger aircraft leasing company is pleased to announce that it has completed the sale of one ATR 72-500 aircraft with manufacturer's serial number 955 which was returned to the Company in October 2023 pursuant to a consensual lease termination from its operator, FlyBig Airlines, an Indian carrier. The aircraft has now been sold and delivered to an airline based in Nepal.

Avation's Executive Chairman, Jeff Chatfield, said: "The Company is delighted to complete the export and sale of our oldest ATR 72-500. The Company's strategy is to focus on new technology low CO2 aircraft such as the ATR72-600 with new technology engines. We are pleased that our transitions team was able to have successfully recovered an aircraft from India with a lease termination, re-registration and export in a matter of weeks."

-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.

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END

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(END) Dow Jones Newswires

October 30, 2023 03:00 ET (07:00 GMT)

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