Avation (AVAP)

Sector:

Commercial Transport

64.00p
   
  • Change Today:
      0.50p
  • 52 Week High: 115.00
  • 52 Week Low: 61.50
  • Currency: UK Pounds
  • Shares Issued: 71.70m
  • Volume: 50,505
  • Market Cap: £45.89m

Avation enters agreements over Virgin Australia aircraft

By Josh White

Date: Friday 26 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Aircraft leasing company Avation said it had struck a deal on five aircraft that were on lease to Virgin Australia, which entered administration on 21 April.
The London-listed firm said it has agreed to lease two of the former Virgin Australia ATR 72-500 turboprop aircraft to another unnamed Australian commercial airline until the end of 2021, at current market lease rates.

It also said it had signed a conditional letter of intent for one of the former Virgin Australia ATR 72-500 aircraft with an airline customer, for an operating lease period of five years at current market rates.

Additionally, it said it had entered into finance leases for the sale of its last two remaining Fokker 100 regional jet aircraft over the period to September, at a price 6% above book value.

"We are optimistic that Virgin Australia will be sold by the administrator and that the eventual buyer should see the value in maintaining and indeed growing the regional network using Avation's remaining ATR 72-600s as a part of the future business," said executive chairman Jeff Chatfield.

"We feel it prudent to mitigate our overall risk by selling down and transitioning certain of the aircraft given the uncertainty that surrounds the present Covid-19 environment."

At 1100 BST, shares in Avation were up 2.94% at 175p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Avation Market Data

Currency UK Pounds
Share Price 64.00p
Change Today 0.50p
% Change 0.79 %
52 Week High 115.00
52 Week Low 61.50
Volume 50,505
Shares Issued 71.70m
Market Cap £45.89m

Avation Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.10% above the market average99.10% above the market average99.10% above the market average99.10% above the market average99.10% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
80.3% below the market average80.3% below the market average80.3% below the market average80.3% below the market average80.3% below the market average
70% below the sector average70% below the sector average70% below the sector average70% below the sector average70% below the sector average
Income
58.73% above the market average58.73% above the market average58.73% above the market average58.73% above the market average58.73% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Growth
71.04% below the market average71.04% below the market average71.04% below the market average71.04% below the market average71.04% below the market average
57.89% below the sector average57.89% below the sector average57.89% below the sector average57.89% below the sector average57.89% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Avation Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Dec-19 03-Oct-19
Paid 09-Jan-20 18-Oct-19
Amount 2.10¢ 8.50¢

Trades for 20-May-2022

Time Volume / Share Price
17:08 20,000 @ 64.00p
16:26 1,000 @ 65.72p
11:37 761 @ 64.85p
10:53 10,000 @ 64.85p
10:47 47 @ 64.85p

Avation Key Personnel

CFO Iain Cawte

Top of Page