THIRD ATR 72-600 DELIVERY TO MANDARIN AIRLINES

AVATION PLC

("Avation" or "the Company")

THIRD ATR 72-600 DELIVERY TO MANDARIN AIRLINES

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, has delivered a third new ATR 72-600 aircraft to Mandarin Airlines, a subsidiary of Taiwan's flag carrier China Airlines. This delivery aircraft serial number 1473 is from a series of new ATR 72-600 aircraft which were to be delivered to Mandarin Airlines before the end of 2017 under leases that were announced on 19 July 2017. The leases are at market rates and the lease duration is eight years.

Avation PLC Executive Chairman, Jeff Chatfield said: "We are pleased to have completed this delivery programme before the end of 2017 and to be the lessor selected by Mandarin Airlines to introduce the ATR 72-600 into their fleet. Globally the ATR 72-600 is the most popular regional turboprop aircraft and provides our airline customers with the most cost effective solution for regional operations. This aircraft MSN1473 is the Company's 31st ATR 72-600 new aircraft delivery."

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Avation PLC is a commercial passenger aircraft leasing company, headquartered in Singapore, owning and managing a fleet of jet and turboprop aircraft which it leases to airlines across the world. The Company's customers include Eva Air as well as easyJet, Philippine Airlines, Air France, Air India, Condor, Flybe, Fiji Airways, Thomas Cook, Virgin Australia, Mandarin Airlines and Vietjet Air. More information on Avation is available at www.avation.net.