Transaction in Own Shares

February 16, 2008
                                              AVATION PLC
                                     ('AVATION' OR THE 'COMPANY')

                                FURTHER SHARE BUYBACK FOR CANCELLATION

The Board of Avation, a commercial jet aircraft leasing provider, advises that it has purchased 25,000
Ordinary Shares on the PLUS Market at 28 pence per share for cancellation.

The authority to buy-back shares was given to the Directors at the AGM held on the 5th of December
2008.

As a consequence the number of shares in issue will decrease to 25,555,510 after the shares purchased
have been cancelled.

The Directors' holdings represent 17.27% per cent. of the 25,555,510 Ordinary shares now in issue.

               The directors take responsibility for the contents of this announcement.

                                              ---ENDS---

ENQUIRES:

AVATION PLC                                                      07783 942 553
Jeff Chatfield, Chairman

STOCKBROKERS
WH Ireland Ltd                                                   020 7220 1670

Cornhill Asset Management Ltd                                    020 7743 6000

ADVISOR                                                          020 7628 1128
Frank Lucas/Jonathan Willis-Richards
Loeb Aron & Company Ltd.

MEDIA                                                            020 7562 3350
Maxine Barnes, Nick Rome
Bishopsgate Communications

WEBSITES

www.avation.net

Avation plc