Interim Results

Capital Lease Aviation PLC
29 January 2008


29 January 2008

                          Capital Lease Aviation PLC
                                   ('CLA')

                               INTERIM RESULTS

The Board of CLA is pleased to announce the unaudited consolidated results for 
the interim period from 1 July 2007 to the 31 December 2007.



HIGHLIGHTS:


•        Revenues for the period:              GBP  573,149 ;

•        Profit before tax:                    GBP  362,190 ;

•        Earnings per share (pre tax):         0.38 pence


Jeff Chatfield, Chairman said 'The initial results that we now report indicate
that the Company has commenced profitable operations. The profit is entirely
satisfactory. The results were achieved with only two aircraft in the portfolio
for three months of the financial period. This was at a time when the management
was concentrating its efforts upon admitting the Company's shares to AIM.'

  The directors take responsibility for the contents of this announcement.


                                  ---ENDS---


Enquiries:

CAPITAL LEASE AVIATION PLC
Jeff Chatfield, Executive Chairman                       07783 942 553

STOCKBROKERS
WH Ireland Limited                                       020 7220 1670

MEDIA
Maxine Barnes, Nick Rome & Nick Farmer
Bishopsgate Communications                               020 7562 3350

NOMINATED ADVISER
James Joyce, David Porter
WH Ireland Limited                                       020 7220 1666







Review of Operations and Strategy



The Company's results were achieved with only two aircrafts acquired at the end
of September 2007.  Given the early stage of the Company, the profits were
entirely satisfactory.



After admission to trading on AIM on 14 December 2007, a further US$7.57m
aviation finance facility was secured to ready CLA for more acquisitions in
2008. CLA is in the process of securing more aircraft and indeed has paid a
deposit of US $0.5m for the purchase of its next plane.



We are focussed on growing the business by expanding our potential customer
base, as well as diversifying the type of aircraft assets that we hold.



The risks to the business include, but are not limited to, a general downturn in
the global aviation industry, which may lower lease rates or reduce our ability
to lease or sell aircraft.  The business also relies on its ability to source
finance on favourable terms. Should this prove difficult, it may limit our fleet
expansion and therefore growth.







Richard Sinclair

Chief Executive Officer

London




CAPITAL LEASE AVIATION PLC
CONSOLIDATED INCOME STATEMENT
FOR THE PERIOD 1 July 2007 - 31 December 2007
  
                                                                 GBP

From Continuing operations

Lease rental income                                          332,054
Other operating income                                       241,095
Total Income                                                 573,149
Selling, general and administrative expenses                (137,916)
Profit before depreciation and finance costs                 435,233
Depreciation                                                 (58,798)
Interest expense                                             (14,245)
Profit before taxation                                       362,190
Profit before taxation from continuing operations            362,190
Profit attributable to the shareholders                      362,190

Pre Tax Earnings per share
- Basic                                                   0.38 pence
- Fully Diluted                                           0.38 pence



CAPITAL LEASE AVIATION PLC
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2007
                                                                2007
                                                                 GBP
ASSETS
Current assets:
Cash and cash equivalents                                  9,452,278
Trade and other receivables                                  598,187
Total current assets                                      10,050,465

Non-current assets:
Plant and Equipment                                        5,249,523
Total non-current assets                                   5,249,523

Total assets                                              15,299,988

LIABILITIES AND EQUITY
Current liabilities:
Trade and other payables                                     308,240
Total current liabilities                                    308,240

Non-current liabilities:
Loan and borrowings                                        3,793,967
Total non-current liabilities                              3,793,967

Capital and reserves:
Share capital                                                 97,808
Share premium                                             10,737,735
Foreign Currency Translation Reserve                              60
Retained earnings                                            362,178
Net equity                                                11,197,781

Total liabilities and equity                              15,299,988






CAPITAL LEASE AVIATION PLC
CONSOLIDATED CASH FLOW
AS AT 31 DECEMBER 2007
                                                                2007
                                                                 GBP
Operating activities
Profit for the interim period                                362,190

Adjustments for:
Depreciation                                                  58,798
Interest expense                                              14,245
Interest income                                             (195,150)
                                                             240,083

Changes in working capital:
Trade and other receivables                                 (598,187)
Trade and other payables                                     293,995
Cash used in operating activity                   (64,109)

Investing activities:
Interest received                                            195,150
Purchase of plant and equipment                           (5,248,482)
Cash from investing activities                            (5,053,332)

Financing activities:
Proceeds from issue of new shares, net of expenses        10,785,443
Proceeds from borrowings                                   3,793,967
Cash from financing activities                            14,579,410

Net effect of exchange rates on 
 consolidating subsidiaries                                  (59,779)

Net increase in cash and cash equivalents       9,402,190
Cash and Cash equivalents at the beginning 
 of the period                                                50,088
Cash and Cash equivalents at the end of the period         9,452,278






Approved by the board on 28th January 2008.



The above information has been extracted from the management accounts and has
not been audited.  No provision for taxation has been made for the half year.




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