Company Profile


Commercial passenger aircraft leasing specialists

Avation PLC is a commercial passenger aircraft leasing company that was incorporated in England and Wales in 2006 and whose shares are traded on the Main Market of the London Stock Exchange (LSE: AVAP).

Avation owns and manages a fleet of aircraft which it leases, through its subsidiaries, to airlines across the world. Our customers include Virgin Australia, Thomas Cook, Condor, Air France, Air Berlin, Vietjet Air, Fiji Airways and UNI Air. The company’s fleet includes Airbus A320 family aircraft as well as Fokker 100s and ATR 72s.

Specialist management team

Avation’s management team has extensive experience in all areas of the aviation industry and has the expertise to select aircraft to bring under Avation’s management that will deliver value to the company, performance to its customers and returns to its shareholders.

Financial Growth

Coinciding with the expected delivery of the ATR 72s and potential acquisitions of other aircraft, Avation will continue to grow in terms of the size and quality of its managed fleet and the financial returns it generates.


http://www.avation.net/

Half year report to Dec 16

Overview
·   Lease revenue increased by 43% to $45.1 million;
·   Earnings before interest and tax ("EBIT" or "Operating Profit") grew 54% to $27.6 million;
·   Profit before taxation increased by 51% to $8.4 million;
·   Total profit after tax increased 54% to $7.4 million;
·   Operating cash flows increased 65% to $31.1 million; and
·   Earnings per share ("EPS") increased 46% to 12.9 cents.

Looks good here , hope we can move up slowly .

On Thursday, Avation PLC (AVAP:LSE) closed at 209.50, -2.10% below its 52-week high of 214.00, set on Jan 04, 2017.

7 March Avation in a Shares investor evening London.

Who Should Attend?Date:

Tuesday 7th March 2017

Venue:

Novotel Tower Bridge, London EC3N, 10 Pepys Street, London, EC3N 2NR

Event Timings:Sponsored by:

Here's another that gets knocked back , again more buys all week but they drop it in a flash .

Nice rise today though .

ST of IC today - So, ahead of the next update on the bidding process, and having last advised buying at 195p ('Targeting record highs', 21 November 2016), I continue to rate Avation's shares a buy and have upgraded my target price to 250p, inline with the latest book value. Buy.


The bidding process is for the 22 ATR 72's.

TURBO-PROP PORTFOLIO
RNS
RNS Number : 6443Z
Avation PLC
16 March 2017
 
 
AVATION PLC
 TURBO-PROP PORTFOLIO
Avation PLC (LSE: AVAP, "Avation" or the "Company"), the commercial passenger aircraft leasing company, announced on 26 October 2016 that it had received an expression of interest to purchase a portfolio of 22 ATR 72 aircraft.  With the assistance of a financial adviser the Company ran a global process to consider the proposal and benchmark alternative bids associated with the potential sale of such a portfolio. 
 
The Company carefully considered the process for the sale of the portfolio. It was pleased to receive eight offers for all or parts of the portfolio. In reviewing the offers, the Company considered the consequential impact on revenues of the business, the impact to the Company's credit ratings, lessee diversification and concentration, the potential for redeployment of the sale proceeds and other factors.
 
After due and careful consideration, the Company has decided that the optimal commercial outcome is a sale of a smaller portfolio of aircraft. The Company is currently in discussion with a single commercial lessor for a proposed sale of six existing leased ATR 72 aircraft. The Company has executed a conditional letter of intent with the proposed purchaser which has made a $3 million cash deposit, refundable in the event of non-completion.  The transaction is expected to close prior to the end of June 2017 with an economic closing date of 7 of April 2017.  The transaction is subject to entering into definitive sale documentation and the usual conditions of transactions of this type, including the purchaser novating debt finance and technical inspections.
 
Assuming the transaction completes, as it remains conditional, the outcome is at a price above the Company book value for these aircraft and releases approximately $31 million in net proceeds to the Company after transaction costs and debt repayment. The Directors will carefully consider the redeployment of proceeds through the acquisition of a diversified portfolio of leased aircraft.
 
The Company may pay a dividend in the ordinary course of business associated with the Company's year-end. There is no special dividend under consideration in relation to this transaction.
 
Executive Chairman Jeff Chatfield said "This was an extremely positive process for the Company, eight existing and new lessors were interested in part or all of the ATR portfolio. Many of these bidders offered to pay cash above book value. But, in our view selling such a large proportion of our fleet would reduce revenues too dramatically. Aircraft valuations remain high, with a rush of new liquidity into the aircraft lessor market. The efficient redeployment of the proceeds from the sale of 22 aircraft would therefore be challenging in the current aircraft pricing environment.  In our view the exercise did validate the Company aircraft valuations and verified our business model.
 
"In electing to sell six aircraft, we expect to release approximately $31 million in equity (before costs), which can then be leveraged. We are confident the proceeds can be redeployed in a sensible manner in the near term.   
 
"The Company remains extremely confident in the ATR aircraft which is the leading turboprop in the world with about 85% global market share. The Company has three ATR-72s to place in 2017 and a further six in future years with 27 additional options over new aircraft. The Company plans to continue to invest in ATR-72s in addition to jet aircraft.  Avation PLC is in net growth mode in 2017 and is actively seeking airline sale and lease backs along with secondary trade transactions with other lessors."
 
-ENDS-

ST of IC today - My target price of 250p is not only achievable, but is looking increasingly conservative. Buy.
 

About time this really took off eh .

TURBOPROP PORTFOLIO TRANSACTION
RNS
RNS Number : 1004D
Avation PLC
24 April 2017
 
AVATION PLC
("Avation" or "the Company")
  TURBOPROP PORTFOLIO TRANSACTION
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announced on 16 March 2017 that it had entered into a letter of intent in relation to the sale of six ATR 72-600 aircraft. The Company confirms that it has now entered into definitive sale and purchase agreements with Chorus Aviation Capital Corp., and certain of its subsidiaries in relation to the aircraft.
 
Chorus Aviation Inc. (TSX: CHR), the parent company of Chorus Aviation Capital Corp., has made an announcement in respect of the transaction which is appended to this announcement. The sale and purchase agreements remain subject to confirmation of bank finance by Chorus Aviation Capital Corp., as well as other closing conditions typical of transactions of this nature including the novation of the lease agreements by the respective airlines. The transactions are expected to complete prior to the end of June 2017.
 
The completion of the sale of all six aircraft releases approximately US$31 million in net proceeds to the Company after costs and debt repayments. The Directors will consider the redeployment of these proceeds through the acquisition of aircraft that further diversify Avation's portfolio.
 
Executive Chairman Jeff Chatfield said, "We are pleased to have progressed our strategy to further diversify our fleet. The value rationale for this series of transactions is the release of equity, which can be reinvested for growth, as well as the creation of an opportunity to diversify Avation's customer base. The company believes that improving airline customer diversification mitigates overall risk and therefore improves Avation's credit metrics. We remain confident in the prospects for the ATR aircraft type which is the leading turboprop in the world with a market share of approximately 85 per cent."
 
-ENDS-
 
More information on Avation can be seen at: www.avation.net
 
Enquiries:
Avation
Jeff Chatfield, Executive Chairman

 
T: +65 6252 2077

Notes to Editors:
Avation PLC is a commercial passenger aircraft leasing company, owning and managing a fleet of 40 jet and turboprop aircraft which it leases to airlines across the world. The Company's customers include Air France, Air Berlin, Air India, Condor, Flybe, Fiji Airways, Thomas Cook, Virgin Australia, UNI Air and Vietjet Air.
 


FULL TEXT OF CHORUS AVIATION INC. ANNOUNCEMENT:
Chorus Aviation announces agreements to acquire
six ATR 72-600 aircraft on lease to Flybe and Virgin Australia
 
Halifax, April 24, 2017 - Chorus Aviation Inc. ('Chorus') (TSX: CHR) announced today agreements by Chorus Aviation Capital's subsidiaries to acquire six ATR 72-600 aircraft with attached leases from Avation PLC. Three of these aircraft are currently on lease to U.K. carrier, Flybe, and three to Virgin Australia Airlines. The aircraft are between one and four years old and are the first ATRs added to Chorus Aviation Capital's growing regional aircraft fleet.
 
Commenting on the planned purchase, Chorus Aviation Capital's President, Steven Ridolfi, said, "We are delighted to announce this portfolio acquisition, adding two outstanding customers to our growing pool of airline lessees, and welcoming the addition of the first ATRs to our diversifying fleet."
 
Joe Randell, President and Chief Executive Officer, Chorus, said, "This investment further demonstrates the targeted expansion and growth strategy for Chorus into regional aircraft leasing. We are building a leading global regional aircraft lessor and look forward to announcing additional opportunities in the months ahead."
 
The aggregate purchase price for the aircraft is consistent with current market values for similar aircraft, and Chorus Aviation Capital intends to finance the purchase utilizing a combination of debt financing and cash with a leverage ratio of between three and four to one. The transactions are expected to close by the end of June 2017 and are subject to customary conditions precedent to closing, including novation of the existing leases and receipt of debt financing.
 
About Chorus
Headquartered in Halifax, Nova Scotia, Chorus was incorporated on September 27, 2010. Chorus' vision is to deliver regional aviation to the world.  Chorus owns Jazz Aviation and Voyageur Aviation - companies that have long histories of safe and solid operations that deliver excellent customer service in the areas of contract flying operations, engineering, fleet management, and maintenance, repair and overhaul.  Chorus has been leasing its owned regional aircraft into Jazz's Air Canada Express operation since 2009, and recently established Chorus Aviation Capital to become a leading, global provider of regional aircraft leases and support services. Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol 'CHR'. For more information about Chorus and its subsidiaries, see www.chorusaviation.ca.

Nice rise here Dream , hope it can hold it and move on .

Doing well VICTIM. :-))

Good results here , and hopefully good future .

Preliminary results

Overview
·   Lease revenue increased by 32% to $94.2 million;
·   Earnings before interest and tax ("EBIT" or "Operating Profit") grew 32% to $60.2 million;
·   Profit before taxation increased by 18% to $21.4 million;
·   Total profit after tax increased 16% to $21.3 million;
·   Operating cash flows increased 20% to $63.0 million;
·   Dividend per share increased by 85% to 6.00 US cents; and
·   Earnings per share ("EPS") increased by 6% to 36.3 US cents.

OPERATIONAL UPDATE
RNS
RNS Number : 7278Q
Avation PLC
14 September 2017
 
AVATION PLC
("Avation" or "the Company")
OPERATIONAL UPDATE
 
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company is pleased to announce it has signed multiple long term leases with two airlines for four aircraft.
 
In response to an analyst question, Avation confirms that it has signed a new lease for a mid life Airbus A321 which will commence on expiry of its existing lease in mid 2018. The aircraft will transition to another European Airline for a term of 72 months at typical commercial rates for a mid life aircraft.
 
Furthermore in respect to the Letter of Intent for three aircraft announced on the 19 July 2017 the long term leases have now been signed. The three aircraft are currently undergoing final configuration and are scheduled to be delivered toward the end of Q4 of 2017.
 
 
-ENDS-

Two new RNS's two new twin aisle aircraft , moving along just lovely here .

AIRCRAFT TRANSITION
RNS
RNS Number : 1442V
Avation PLC
31 October 2017
 
AVATION PLC
("Avation" or "the Company")
AIRCRAFT TRANSITION
 
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company is pleased to announce it has signed a conditional letter of intent with easyJet Airline Company Limited ("easyJet") for the entering into a new lease of an Airbus A320-200 serial number 4033.
 
The aircraft has been on lease to Air Berlin.  The term sheet for the new lease is subject to the customary conditionality and the settling of final documentation and the formal completion of easyJet's partial purchase of Air Berlin. The proposed lease rates and duration are typical for aircraft of that type.
 
Executive Chairman Jeff Chatfield said "we are pleased to have entered into a conditional term sheet with easyJet for a new lease of the Airbus A320 providing for the smooth transition of the aircraft. Avation does not expect any financial impairment, material loss nor gain associated with the transition of the aircraft from Air Berlin to easyJet".
 
 
-ENDS-

PRICES U.S. DOLLAR DENOMINATED BOND TAP
RNS
RNS Number : 6784W
Avation PLC
16 November 2017
 
AVATION PLC
("Avation" or "the Company")
PRICES U.S. DOLLAR DENOMINATED BOND TAP
 
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, advises that it has priced and issued a US$20,000,000 tranche of its 7.5% senior notes due 2020 at a premium with a price of 100.83. The notes issue is a tap of and to be consolidated into and form a single series with the existing US$120,000,000 senior notes due 2020 which were originally issued 2015 in the amount of US$100,000,000 and again in 2017 in respect of a further tap issue in the amount of US$20,000,000 (the "Notes"). The issuance was made under Avation's Global Medium Term Notes Programme.
 
Full details of the pricing of the issue are included below in this announcement.
 
Avation's Executive Chairman Jeff Chatfield said: "The Company has decided to establish a financing package using, in the main part, attractively priced bank finance for the purchase of a series of additional aircraft scheduled for delivery before the end of December 2017. This tap issuance forms a part of the overall financing for the aircraft.    
 
Avation remains a disciplined borrower. The reopening tap issuance was priced at a premium. RW Pressprich was sole bookrunner for the transaction."