Avation Regulatory News (AVAP)

LSE: AVAP

17 September 2015

AVATION PLC

(the 'Company')

FIRST FLYBE AIRCRAFT DELIVERY

Avation PLC, (LSE: AVAP) the commercial passenger aircraft leasing company, has delivered into operation a new ATR72-600 aircraft to be operated by UK commercial airline Flybe.

The delivery is the first of a series of new ATR72-600 aircraft which will be progressively delivered new to Flybe during the course of 2015 and early 2016. This arrangement was initially announced on the 23rd of February 2015. The lease rate and terms are typical for leases of this type: the initial duration of the leases is six years with the client options for further term extensions.

Avation Plc Executive Chairman, Jeff Chatfield said: "We are satisfied with the financial outcome of owning over 20 ATRs we have flying today in the liveries of several airlines in a variety of countries and environments. We are pleased to be associated with two major European aviation operators like Flybe and SAS, and we are confident that the introduction of these new ATR 72 -600s may bring us additional opportunities to place additional new ATRs in Europe as airlines start replacing their earlier generation aircraft."

See link to figure 1- a picture of the first Flybe ATR 72 -600

http://www.rns-pdf.londonstockexchange.com/rns/3365Z_-2015-9-17.pdf

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