AVTECH applies for termination of its reorganization

The Board of AVTECH Sweden AB (publ) (”AVTECH” or the ”Company”) today announces
that an application has been sent to the Attunda District Court in Stockholm
Sweden, to terminate the Company’s ongoing successful reorganization as the
objectives of the reorganization have now been met. AVTECH will following the
termination being granted, fully pay all the creditors whom are part of the
Company’s reorganization-moratorium.
”It is with great satisfaction that I conclude that our activities in regards of
implementing a long-term financing solution have been successful, well within
the time-span that was allowed by the reorganization”, says Lars GV Lindberg,
the Chairman of Board of AVTECH. ”The Company’s Board and management have
invested significant efforts in implementing the activities that were announced
in connection to the Company entering the reorganization, i.e. to reduce the
Company’s costs, to reorganize the Company with a focus on Sales, and to
implement the recently concluded preferential rights issue”, continues Lars GV
Lindberg. “I especially want to thank our existing owners for the strong support
that we have received and I also welcome our new share-owners to a very exciting
company”, concludes Lars GV Lindberg.

”AVTECH has during the last five months completed a journey that would take a
number of years for a company in a normal situation to do, and I am as a whole
very satisfied with the outcome of our activities during the reorganization”,
says Christer Staaf, the CEO of AVTECH. ”Though the reorganization will near
-term be formally terminated, and we now have a situation where our costs are
lower and our organization is adapted to be able to increase our business
volumes significantly, it is with great humility that we now enter a normalized
phase following the reorganization”, continues Christer Staaf. ”The fact that
two of our Aventus NowCast customers started live commercial operations during
the reorganization is a very important milestone as it proves that the system
works in a commercial operative environment, though extensive and intensive work
remains in order to expand our portfolio of commercial Aventus-contracts to the
level where it generates a sufficient amount of uplinks to reach profitability
and beyond. This is our upcoming but positive main challenge. I look forward to
continuing a very exciting journey with AVTECH”, concludes Christer Staaf.

For more information, please contact

Christer Staaf, CEO, +46 (0) 8 544 104 80

Jonas Saric, CFO, +46 (0) 8 544 104 80

About AVTECH Sweden AB (publ)

AVTECH develops products and services for digital Air Traffic Management (ATM).
Its customers include the global aviation industry; e.g. airlines, airports,
aviation authorities, technology companies and airline manufacturers. By using
AVTECH’s products and services, each individual flight as well as the entire
airline operation can be optimized in terms of cost, noise and emission,
efficiency, punctuality and safety. The head office is in Stockholm, Sweden with
subsidiaries in Toulouse, France and Dubai, U.A.E. AVTECH Sweden AB is listed on
NASDAQ OMX First North and has appointed Mangold Fondkommission AB as Certified
Adviser.