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. Weand 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.”