TIDMAVAP Acquisition of Airbus A320-200 Aircraft 19 April 2013 AVATION PLC ("Avation" or the "Company") Acquisition of Airbus A320-200 Aircraft Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company is pleased to announce that it has entered into an agreement to acquire an additional Airbus A320-200 aircraft. The aircraft will be leased by the Company to an Australian carrier for a period of 61 months. The aircraft was acquired from another lessor. The Avation Group's fleet now stands at a total of 21 commercial passenger aircraft of which five aircraft are Airbus A320 series aircraft. Jeff Chatfield, Executive Chairman of Avation, commented: "This acquisition is in line with the Company's strategy of pursuing newer aircraft and reducing its asset exposure for not-in-production aircraft, such as Fokker 100s, which now stand at below 10 per cent of the overall book value of Avation's fleet. The average age of the Company's aircraft fleet is now 8.7 years." Information on Avation PLC can be found at www.avation.net Enquiries: Avation Plc Jeff Chatfield, Executive Chairman +65 9735 4151 Blythe Weigh Communications Tim Blythe, Robert Kellner + 44 (0) 207 138 3204 Liberum Capital Limited Chris Bowman / Richard Bootle +44 203 100 2222 W H Ireland Limited James Joyce +44 207 220 1666 About Avation Avation was formed in 2006 initially to support Skywest Airlines (Australia) Pty Ltd. and was admitted to the Standard segment of the Official List of the London Stock Exchange in October 2010. The Company's main activity is an operating lessor of commercial passenger aircraft to airlines across Europe, the US and Australia. Early in 2011 the company entered into an agreement with Skywest Airlines to provide a fleet of up to eighteen new aircraft to operate along the East Coast of Australia on behalf of Virgin Australia. Avation plc
(END) Dow Jones Newswires
April 19, 2013 02:00 ET (06:00 GMT)