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, 8 August 2018, 3 September 2018, 1 October 2018 and 31 October 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 that the Proposed Disposals to Incline B and FLY have been completed on 7 November 2018 following the transfers by AACL of Red 2 Sale Share to Incline Aladdin Holdings Limited and the transfer of Red 3 Sale Share to Fly Aladdin Holdings Limited respectively, save for the transfer of five aircraft leased to third party airlines.

This announcement is dated 8 November 2018.