08/06/2012 | Press release

First ATR 72-600 added to Avation's Fleet

distributed by noodls on 08/06/2012 08:18

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LSE: AVAP Singapore,6 August 2012

AVATION PLC

(the "Company")

First ATR 72-600 added to Avation's Fleet

Avation Plc is pleased to announce the addition of the first new ATR 72-600 series aircraft to its fleet. The aircraft was accepted by Avation on the 3rd August at ATR's manufacturing facility in Toulouse, France. This is the first ATR 72-600 variant to be added to Avation's fleet and the company's seventh new ATR 72. The aircraft is being added pursuant to the strategic Australian Regional Airline Network (ARAN) agreement entered into between Avation Plc, Skywest Airlines of Australia and Virgin Australia to provide a fleet of new aircraft which will operate in Australia. The aircraft are operated by Skywest Airlines.
With the addition of this aircraft, Avation's fleet now stands at a total of 16 aircraft. It is worth mentioning that Avation's subsidiary Capital Lease Aviation Plc very recently disposed of three older Fokker 100 aircraft. The disposal and this new acquisition is in line with Avation's strategy to lower its average fleet age and invest in newer fuel efficient aircraft. With great fuel efficiencies being achieved by Skywest Airlines on its operations on the East coast of Australia, Avation's belief in the ATR aircraft has been strengthened further. As of 3rd August, the company has a further eight firm aircraft, eight options and seventeen purchase rights for ATR 72-600 aircraft.
On this occasion Avation's Chairman, Jeff Chatfield said "This delivery is the first of a series of ATR 72-600s, that we are buying. Our strategy is to lower the age of our owned fleet, thus extending the potential residual value of our fleet for our shareholders."

About ATR

Founded in 1981, ATR has become the world leader on the market for regional aircraft with 90 seats or less. Since its creation, ATR has sold approximately 1,200 aircraft to over 180 operators based in
91 countries. ATR planes have totalled over 21 million flight hours. ATR is an equal partnership between two major European aeronautics players, Alenia Aermacchi (a Finmeccanica Group company) and EADS. Its head office is in Toulouse (France). ATR is ISO 14001-certified, the international reference standard in the field for environmental friendliness.
For additional information, log on to www.atraircraft.com.
-ENDS-
Further information on Avation PLC can be seen at: www.avation.net Avation PLC is registered in
England and Wales with an Operational Headquarters in Singapore. Enquiries:

Avation PLC

Jeff Chatfield, Chairman +44 7783 942 553

W H IRELAND

Harry Ansell /James Joyce +44 20 7220 1666

CadoganPR

Alex Walters / Lavinia Fiamma +44 20 7839 9260

+44 (O) 7771 713 608

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