ENGINE LEASE BUSINESS COMMENCES

Via the RNS

AVAP:LN

AVATION PLC

("Avation" or "the Company")

ENGINE LEASE BUSINESS COMMENCES

SINGAPORE - 26 February, 2020 AVATION PLC (LSE: AVAP) - Avation advises that it has entered the aircraft engine lease business and has established its first engine lease. The Company has signed an operating lease with Transportes Aeromar, S.A. de C.V. (Aeromar Airlines) for a Pratt and Whitney PW127M engine.

The engine will be operated in support of the fleet of Aeromar Airlines which currently has 10 ATR aircraft serving 25 routes from Mexico City.

Avation's Executive Chairman, Jeff Chatfield said: "Engine leasing is a new business initiative which we are exploring. We and also our airline clients occasionally lease engines when needed, we see this is a valued added business line which certain airline clients may find useful."

-ENDS-

Enquiries:

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.