LONDON – 10 JANUARY 2020 - Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, is pleased to announce that it has completed the purchase of its first engine, which is now available for lease as a spare engine to commercial aircraft operators. The acquired engine is virtually new having only completed 54 hours and is a Pratt and Whitney Canada PW127M.

Jeff Chatfield, Executive Chairman said “The Company believes the line of engine leasing will be modestly accretive to its business and tactically useful in support of its own and its customers’ fleets from time to time. The Avation marketing team is in the process of establishing marketing plans for engine leasing and establishing the sales and marketing process.”