Unless otherwise defined, the abbreviations and definitions used in the announcements by the Company dated 1 March 2018, 27 March 2018, 14 May 2018, 29 June 2018, 19 July 2018 and 8 August 2018 ("Announcements") and the Circular to Shareholders 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 transfer of an additional number of aircraft pursuant to the Incline B SPA and the FLY SPA on 30 August 2018. The total number of aircraft involved under the abovementioned transfer is 15 aircraft and AAGB has received USD201.5 million in gross proceeds in the form of USD151.5 million as cash consideration and 3,333,333 FLY Equity issued at USD15.00 per FLY Depository Share to AAGB in accordance with the FLY Subscription Agreement. To date, the cumulative number of aircraft transferred is 54 aircraft and AAGB has already received gross proceeds totalling USD703.1 million.

AAGB is still on track to complete the disposal of the remaining 30 aircraft and 14 aircraft engines under the Incline B SPA and FLY SPA as planned.

This announcement is dated 3 September 2018.