Avation: Update Of $1B Global Medium Term Note Programme

Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that its wholly-owned subsidiaries, Avation Capital S.A. and Avation Group (S) Pte. Ltd. (together, the "Issuers"), have on 20 April 2018 updated their global medium term note programme (the "Programme").

The Programme is guaranteed by the Company. DBS Bank Ltd. and R.W. Pressprich & Co. remain as dealers of the Programme and each of BOCI Asia Limited, DVB Capital Markets LLC, Goldman Sachs (Asia) L.L.C., Jefferies LLC, Morgan Stanley & Co. International plc, and Wells Fargo Securities, LLC have acceded as permanent dealers of the Programme (together, the "Dealers").

Under the Programme, the Issuers may issue Notes (the "Notes") denominated in any currency in various amounts and tenors, which may bear fixed, floating, variable or hybrid rates of interest or no interest at all.

For the purpose of the Programme update, the Company engaged Ernst & Young to produce an accountant's report in relation to the Company's financial years ended 30 June 2016 and 30 June 2017 and selected interim periods. The updated offering memorandum will be made available on the Company's website at www.avation.net.

Jeff Chatfield, Executive Chairman, said: "We were pleased to see the recent change to a positive outlook for our credit rating from Standard and Poor's. As at December 31, 2017, our fleet of 37 commercial aircraft is leased to 12 airlines, and has a weighted average age of 2.9 years and a remaining lease duration of 7.9 years. We are selectively and organically growing our aircraft asset base while strategically avoiding the risks associated with owning older aircraft".