AAIR Advent Air

RNS Number:6743E
Advent Air Limited
28 September 2007




For immediate release                   28 September 2007







                                 ADVENT AIR LTD
                         ("Advent Air" or the "Company")


                         Fleet expansion to 11 Aircraft


The Board of Advent Air is pleased to announce that its wholly-owned subsidiary company Skywest Airlines ("Skywest") has
signed an agreement to lease a further Fokker 100 jet bringing its total fleet of aircraft to eleven.   The aircraft is 
required to ensure delivery of services to resource sector clients of Skywest and will also be used on the new 
commercial routes offered by the airline.



HIGHLIGHTS



  * The lease agreement is with a subsidiary of Avation PLC (AVAP.PZ);


  * The lease rate is approximately USD $1.18m per year plus maintenance
    reserves;


  * The term of the lease is 60 months; and


  * On termination of the lease, Skywest is obliged to ensure in the handback 
    process that the aircraft will possess a certificate of airworthiness that 
    is valid for at least 3,000 flight hours.



The new lease by Skywest of the Fokker 100 aircraft is being treated as a
related party transaction under the AIM Rules. The independent directors of
Advent, comprising the non-executive directors being John Jost and Seah Kian
Peng having consulted the Company's Nominated Adviser, have considered the new
lease of the Fokker 100 aircraft from the Avation subsidiary (the "Transaction
"), and consider that the terms of the Transaction are fair and reasonable
insofar as the shareholders of Advent Air are concerned.



Skywest recently announced growth in passenger numbers over the year to August
2007 of 14.6% and new passenger routes to Port Hedland and Melbourne.



Advent Air's Chairman, Jeff Chatfield said: "With this expansion to our aircraft
fleet, Skywest remains well positioned to exploit the continued growth dynamic
in the Western Australia market, which is underpinned by growing passenger
numbers and the opening up of new routes. Skywest is seeking resource sector
charters as well as provision for the growth associated with the new services
such as those offered to Port Hedland and Melbourne."


The directors take responsibility for the contents of this announcement.

ENQUIRES:

Advent Air Ltd                                    07783 942 553
Jeff Chatfield, Chairman

Nominated Advisor                                 0207 220 1666
James Joyce/David Porter, W H Ireland Limited

Stockbroker
W H Ireland Limited                               0207 220 1690

Financial Public Relations
Bishopsgate Communications                        0207 562 3350
Maxine Barnes
Nick Rome

Websites:
www.advent.com.sg
www.skywest.com.au





                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCSEAFWWSWSEFU

Advent Air (LSE:AAIR)
Historical Stock Chart
From May 2024 to Jun 2024

Advent Air (LSE:AAIR)
Historical Stock Chart
From Jun 2023 to Jun 2024