CORRECTING and REPLACING Avolon Delivers a Boeing 737-800 to Pegasus Airlines

In the subhead and first paragraph, the number of aircraft has been updated 'fourth' (instead of 'fifth').

The corrected release reads:

AVOLON DELIVERS A BOEING 737-800 TO PEGASUS AIRLINES

Fourth Avolon aircraft on lease to Pegasus

Avolon (NYSE: AVOL), the international aircraft leasing company, announces the delivery of a Boeing 737-800 aircraft to Pegasus Airlines. The delivery is Avolon’s fourth aircraft on lease to Pegasus, one of Europe’s fastest growing airlines.

ENDS

About Avolon

Headquartered in Ireland, with offices in the United States, Dubai, Singapore and China, Avolon provides aircraft leasing and lease management services. Avolon had an owned, managed and committed fleet of 235 aircraft serving 49 customers in 28 countries as of December 31, 2014. Avolon is listed on the New York Stock Exchange, under the ticker symbol AVOL.

www.avolon.aero