Unless otherwise defined, the abbreviations and definitions used in the announcements by the Company dated 1 March 2018, 27 March 2018, 14 May 2018 and 29 June 2018 ("Announcements") and the Circular dated 27 April 2018 shall apply herein.

We refer to the Announcements in relation to the Proposed Disposals.

The Company wishes to announce the completion of the Incline Initial Transfer Assets and Fly Initial Transfer Assets on 18 July 2018 pursuant to the Incline B SPA and the FLY SPA respectively.

The total number of aircraft involved under the abovementioned transfer is 17 aircraft and AAGB has received USD172.0 million in gross proceeds from which a sum of USD14.5 million has been applied towards meeting the capital call by Incline B GP (Cayman) which the Company has earlier agreed to become a limited partner of Incline B Parallel.

To date, the cumulative number of aircraft transferred is 30 aircraft and AAGB has received gross proceeds totalling USD355.0 million.

AAGB is currently on schedule with the planned staggered disposals of the other remaining 54 aircraft and 14 aircraft engines under the Incline B SPA and FLY SPA.

This announcement is dated 19 July 2018.