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/

Signal Update

Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 20/10/2014, 11 days ago, when the stock price was 136.4000. Since then AVAP.L has risen by +9.97%.

Market Outlook

Candlesticks warned us today to be on alert with a new bearish pattern. Market attention is now on the downside


http://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=AVAP.L

Signal Update

Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 20/10/2014, 17 days ago, when the stock price was 136.4000. Since then AVAP.L has risen by +9.24%.

Market Outlook

The market is not a friend of the bulls anymore. The bearish signs are increasing and the odds for a downside breakout is non-negligible.


http://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=AVAP.L

Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 20/10/2014, 18 days ago, when the stock price was 136.4000. Since then AVAP.L has risen by +14.74%.

Market Outlook

The bulls are in full control. The negative sentiment that led to the last bearish pattern has evaporated. Besides, the signal is suggesting to STAY LONG. It is best to follow the signal and continue to hold this security.



http://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=AVAP.L

Avation - Mello 2014

Click here

Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 20/10/2014, 22 days ago, when the stock price was 136.4000. Since then AVAP.L has risen by +27.20%.

Market Outlook

The bulls are in full control. The negative sentiment that led to the last bearish pattern has evaporated. Besides, the signal is suggesting to STAY LONG. It is best to follow the signal and continue to hold this security.




http://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=AVAP.L

Shares Investor Evenings showcase up to four presentations from leading companies bringing them together in one room for one evening only.
Directors present their latest plans regarding development and growth
An opportunity to talk directly to the companies and personally put forward your questions
The chance to network with other attendees over drinks and canapés - private investors, wealth managers, private client brokers, fund managers and financial institutions

 

WHO SHOULD ATTEND?

The evening exposes investors to companies across various sectors. Perfect for existing investors as well as those looking for new investment opportunities.

Date:

Wednesday 26th November 2014

Venue:

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

Evening timings:

18:00 - 18:30 Registration and coffee

18:30 - 20:30 Presentations

20:30 - 21:30  Drinks reception and canapés

 

Attendance is complimentary, but spaces are limited. Register now to secure your place!

 

Avation (AIM: AVAP)
Avation PLC is a specialist commercial passenger aircraft leasing company managing a fleet of 28 aircraft which it leases to airlines across the world. Our customers include Virgin Australia, Thomas Cook, Condor, Fiji Airways and UNI Air. Avation also has a subsidiary that supplies aircraft parts and spares to a range of operators, internationally.

 

Speaker: Richard Wolanski – Finance Director



 

Sphere Medical [AIM: SPHR]

Sphere Medical is a dynamic and growing company specialising in the development of innovative medical monitoring and diagnostic equipment. Their products are used in a wide range of medical applications, enabling faster clinical decision-making and improved patient outcomes, whilst providing efficiencies that result in reduced healthcare costs.

Speaker: Dr Wolfgang Rencken, Chief Executive Officer 

VALIRX (AIM:VAL)

Valirx Plc is an oncology-focussed Biopharmaceutical Company, developing treatments and diagnostics. Technologies are selected by using rigorous clinical and commercial processes to address unmet market needs. Clinical lead product is VAL201, a peptide for prostate cancer with follow-on indications in ovarian and breast cancers and endometriosis. Product VAL401, is a small molecule reformulation for lung cancers. The Company’s proprietary technology platform, GeneICE, enables selective silencing of rebellious genes’ inappropriate activity. VAL101, the first GeneICE therapeutic, targets and reduces expression of Bcl-2, implicated in about half of cancers. GeneICE extension to neurology and inflammatory diseases will follow. A novel diagnostic, the Nav3 system, detects pre-cancerous, cancerous and metastatic cells in tissue samples even before a tumour forms; indicating potential malignant formation.

Speaker: Satu Vainikka, CEO

Supported by:                                                                                                      Event Sponsor:





 

DRESS CODE: Business attire 

 

New Aircraft Leased to New Customer

RNS


RNS Number : 0587X

Avation PLC

14 November 2014






AVAP



14 November 2014

AVATION PLC

('Avation' or 'the Company')



NEW AIRCRAFT LEASED TO NEW CUSTOMER

AGM CLARIFICATION



The Directors of Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announce that the Company has entered into a Letter of Intent, secured finance and received deposits to lease two new ATR 72-600 aircraft.

The two new aircraft are to be leased for 12 years to new client, Airline Allied Services Limited, a wholly owned subsidiary of Indian state carrier Air India and operating under the name of 'Air India Regional'. The aircraft are scheduled for delivery in December 2014 and January 2015 and will be the twenty-first and twenty-second ATR 72's purchased by the Company.

To finance the deliveries, Avation PLC has today entered into a binding letter of offer for senior debt finance with an export credit agency. The interest rate margin and cost of funds are consistent with Avation's 2014 OECD credit rating. The overall cost of funding is in line with Avation's typical commercial bank sourced senior funding.

Commenting today, Jeff Chatfield, Executive Chairman of Avation PLC, said: "Consistent with our strategy of diversifying the customer base and geography for our leased aircraft we are pleased to announce this new client and geographic diversification into India. We welcome Air India Regional as an operator and are pleased to have secured additional export credit finance for India."



AGM Clarification

The Directors have responded to questions from shareholders concerning the Company's intentions and policies. In order to be transparent to all shareholders the directors wish to confirm their intentions around equity issues made for cash pursuant to resolution 9 (disapplication of pre-emption rights) of the upcoming AGM.

Assuming that the relevant resolution is passed the directors intend that, where possible, should any fund raising be required, the company's brokers be asked to contact existing shareholders and allow them to participate in such fund raising pro-rata to their holding (shareholders will need to ensure the Company stockbrokers have their contact details). Directors will retain the discretion over the terms of such placing. However, notwithstanding the foregoing, if and only if it is proposed that new shares be issued at pricing which represents a discount to the per share net tangible assets (NTA), then shares will only be issued on a fully pre-emptive basis by way of a rights issue or open offer.

New RNS today.

First ATR 72 Delivery to Air India Regional

RNS


RNS Number : 6886A

Avation PLC

24 December 2014






RNS: AVAP: LSE December 24, 2014



AVATION PLC

("Avation" or "the Company")



First ATR 72 Aircraft delivery to Air India Regional



The Directors of Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announce that the Company has taken delivery of a new ATR 72-600 aircraft direct from the factory in France and that at delivery the aircraft was been leased to Airline Allied Services Limited, otherwise known as Air India Regional, the domestic airline arm of Air India, the national carrier of India.



This is the first aircraft that the Company has delivered to Air India Regional and is the airline's first ATR 72-600. The Company has a second ATR 72-600 on order with Air India Regional for delivery anticipated in January 2015.



This aircraft is the Company's twenty-first new ATR 72 aircraft to date.



Mr. Rohit Nandan, Chairman, Air India Regional stated that "We are pleased to introduce into our fleet an aircraft which has clearly become the new reference among all regional planes. The ATRs have proven for years their reliability and their ability to bring our passengers to every destination of our regional network".



Commenting today, Jeff Chatfield, Executive Chairman of Avation, said: "We are very happy to fulfil this order from Air India Regional and to take delivery of our twenty-first new ATR72 aircraft. It is pleasing to be the lessor of choice to deliver the first aircraft in Air India Regional's fleet renewal program. Air India Regional is a new customer in a new geographical region for the Company, further diversifying the Company's portfolio and we are very pleased to be leasing to India's national carrier."





-ENDS-

Conditional sale of two ATR72 aircraft
RNS
RNS Number : 8935E
Avation PLC
13 February 2015



13 February 2015



AVATION PLC

(the 'Company')



Conditional sale of two ATR72 aircraft



Avation PLC, the commercial aircraft leasing company, advises that it has entered into a conditional arrangement to sell two aircraft. One aircraft relates to a future 2015 delivery for an ATR72-600, new off the production line in 2015, and the second aircraft is an existing ATR72-600 which was delivered to a European airline in 2014. The lease on the second aircraft has subsequently been terminated and Avation has repossessed the aircraft. The purchaser is another commercial aircraft lessor counterpart.



The transaction is conditional on financial terms typical of these arrangements and is expected to close in the second half of the financial year. The conditions include the typical requirements for inspection of aircraft and records and the like. The security deposit from the aircraft lessor counterpart received is US $1m. The sales prices are consistent with the current market values of these aircraft and net revenues will be recorded from the sales.



Avation has a history of aircraft trading - it sold two ATR72s in 2014 and previously sold three Fokker 100 aircraft. The Company is prepared to trade aircraft when conditions permit, such as in respect to overall end user airline credit profiles or when the disposal prices are satisfactory.



Jeff Chatfield Executive Chairman said "Avation currently owns 22 options and purchase rights over future delivery of ATR72-600 aircraft. We intend to use these delivery positions strategically, negotiating as operating lessor with what we view as suitable credit airlines, or otherwise selling these positions. We consider each delivery position option and sale on a case by case basis".



-ENDS-

FINANCIAL RESULTS AND INTERIM MANAGEMENT REPORT
RNS
RNS Number : 2893F
Avation PLC
19 February 2015

RNS: AVAP

19 February 2015



AVATION PLC

(the "Company")



FINANCIAL RESULTS AND INTERIM MANAGEMENT REPORT

FOR THE SIX MONTHS ENDED 31 DECEMBER 2014



"Record number of new ATR 72 deliveries and significant reduction to cost of debt capital"



Avation PLC (LSE: AVAP) the commercial passenger aircraft leasing company is pleased to announce unaudited consolidated financial results for the six-month period ended 31 December 2014.



Highlights for the period are as follows:



• Revenue increased by 13% to US$27.7m compared with US$24.6m in the six months ended 31 December 2013;

• Avation generated earnings per share of 11.4 U.S. cents;

• The fleet increased to 29 aircraft (as at the date of this report), with five new ATR 72-600 aircraft delivered in the six month period ended 31 December 2014;

• The average cost of debt capital across the group further reduced to 4.6% (31 December 2013: 5.5%); and

• Avation established a medium term business pipeline and exercised options to place a firm order for five additional ATR 72-600 aircraft for delivery in 2016.



Avation expects to continue fleet growth with a minimum of 13 new aircraft scheduled to be delivered by the end of 2016. These aircraft represent an investment equivalent to approximately 61% of total assets as at 31 December 2014.



Commenting today, Avation PLC Chairman, Jeff Chatfield said:



"The Directors are pleased with the growth in Avation's core leasing business driven by a rapid rate of deliveries of new aircraft in the period. This growth has also seen the introduction of new airline customers that has further diversified the company's sources of revenue.



"The latest half-year period also saw the announcement of a sale and leaseback with Thomas Cook for two new Airbus A321 aircraft delivering in early 2016. This is the company's first sale and leaseback transaction of brand new aircraft."



"Avation also secured long term fleet growth by firming five delivery options for ATR72 aircraft for delivery in 2016. This takes the number of firm aircraft scheduled to be delivered between now and the end of 2016 to 13 aircraft. In addition to this Avation has 22 further options for future deliveries for ATR 72 aircraft for delivery from 2017 onwards."



"Growth in core leasing revenue and total fleet assets will through the execution of these contracted deliveries of aircraft. The Board is confident that this increase in the scale of the business combined with the significant reduction in average cost of debt across the fleet will continue to provide sustainable growth and drive future earnings."



Further information on Avation PLC can be seen at: www.avation.net. Avation PLC is registered in England and Wales with its operational headquarters in Singapore.

It goes down on approx 30,000 shares traded pathetic isn't it .

New Client for Four New Aircraft
RNS
RNS Number : 5387F
Avation PLC
23 February 2015



LSE: AVAP

23 February 2015

AVATION PLC

(the 'Company')

NEW CLIENT FOR FOUR NEW AIRCRAFT

Avation PLC, (LSE: AVAP) the commercial passenger aircraft leasing company, has entered into lease agreements for four new aircraft to be operated by UK commercial airline Flybe.

The four new ATR72-600 aircraft will be progressively delivered new to Flybe during the course of 2015 and early 2016. The lease rate revenues are consistent with operating leases of this type and term. The initial duration of the leases is six years with the client having further optional six year extension provisions.

The Company owns a significant number of option delivery positions on new ATR72-600 aircraft. The above aircraft represent three of the 2015 option delivery positions and one 2016 delivery position.

To provide a platform for further medium term growth the Company has firmed up its options with the manufacturer ATR for the delivery of five additional new ATR72-600 aircraft in 2016.

Jeff Chatfield, Executive Chairman of Avation PLC, said: "It is pleasing to continue to diversify the airline operator base of aircraft owned by the Company with the addition of Flybe. It is understood that the aircraft will remain on the UK register however they will be operated by Flybe in Scandinavia on behalf of Scandinavian Airlines System. Our strategy is to diversify our risk by geographic dispersion of our aircraft fleet and entering into these operating leases are consistent with that objective. The Company has a large proportion of its aircraft in Asia - Pacific and will continue to seek clients in this region, however, the Company views leasing aircraft to Northern Europe provides appropriate diversification."

-- ENDS -

About Flybe

Flybe, Europe's largest regional airline - 192 routes serving 12 countries from 82 departure points, 37 UK/45 European airports* (all routes on sale Feb '15 - Oct '15); operates more UK domestic flights than any other airline (UK CAA Jan '14 - Dec'14); named top UK airline for punctuality in report issued by UK consumer watchdog Which? (Dec 2014); is the largest scheduled airline by air traffic movements at Belfast City, Birmingham, East Midlands, Exeter, Inverness, Isle of Man, Jersey, Leeds Bradford, Manchester, Newquay and Southampton airports (UK CAA Dec '14); operates fleet of 60 aircraft - 45 Bombardier Q400, 4 Embraer 195 & 11 E175; codeshares with BA, Air France, Etihad, KLM, Finnair, Aer Lingus and Cathay Pacific; has two franchise partners, Loganair and Stobart Air and was Amsterdam Schiphol's Airline of the Year 2012 Europe.

* Flown under the Flybe brand (27 routes/11 airports exclusively served by Flybe's franchise partner, Loganair: and four routes and three airports exclusively operated by franchise partner, Stobart Air)

Today ST of IC has a price target of 200p.

Second ATR72-600 Delivery to Air India Regional
RNS
RNS Number : 0239G
Avation PLC
27 February 2015



AVAP



27 February 2015

AVATION PLC

('Avation' or 'the Company')



SECOND ATR72-600 DELIVERY TO AIR INDIA REGIONAL



The Directors of Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announce that the Company has taken delivery of another new ATR 72-600 aircraft from the factory in France and that the aircraft has been delivered to Airline Allied Services Limited, otherwise known as Air India Regional, the domestic airline arm of Air India, the national carrier of India.



The lease is for an initial term is 12 years. This is the second ATR72-600 that the Company has delivered to Air India Regional and it joins the first aircraft delivered by the Company in December 2014. This delivery is the Company's twenty-second new ATR 72 aircraft delivered to date.



Commenting today, Jeff Chatfield, Executive Chairman of Avation, said: "We are happy to fulfil this order from Air India Regional and to purchase another new ATR72 aircraft. It is pleasing to be the lead lessor in Air India Regional's fleet renewal program. Air India Regional was a new customer in a new geographical region for the Company, diversifying the Company's portfolio and we are pleased to be leasing to India's national carrier."



---ENDS---

USD24m PDP financing facility
RNS
RNS Number : 3028G
Avation PLC
03 March 2015

AVAP: LSE March 3, 2015



AVATION PLC

("AVAP" or "the Company")



US$ 24m PDP financing facility for two new Airbus A321-200's for 2016 deliveries

Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that it has been successful in securing a $16m Pre Delivery Payment "PDP" finance facility from a major European Bank. The use of funds is to finance PDPs for two new Airbus A321-200'S which will be delivered in February and March 2016.

Salient terms of the transactions include:

· The first PDP financing program conducted by the Company;

· The Company has already invested US$ 8.2m in the aircraft transaction;

· A further additional US$ 16m PDP facility has been provided by major European Bank; and

· The aircraft will be leased to Thomas Cook for a period of 12 years.

The Company has entered into a Sale and Leaseback transaction with Thomas Cook for the purchase of the aircraft new at delivery in Feb / March 2016 and the lease of these aircraft to Thomas Cook for 12 years.

Jeff Chatfield, Executive Chairman, said: "We continually seek to acquire aircraft with a wide range of finance solutions. The establishment of the PDP finance program provided by the company with the assistance of a major European Bank, is another important step in the group's fleet expansion program."



-ENDS-

COMPLETION OF CONDITIONAL SALE OF AIRCRAFT
RNS
RNS Number : 4858K
Avation PLC
17 April 2015

RNS: AVAP

17 April 2015



AVATION PLC

(the "Company")



COMPLETION OF CONDITIONAL SALE OF AIRCRAFT



Avation PLC, (LSE: AVAP) the commercial passenger aircraft leasing company, announces that, further to the announcement made on 13 February 2015, it has now completed the sale of one of the ATR 72-600 aircraft.



A further announcement will be made once the second conditional sale is completed which is expected in the next two months.







-ENDS-

Avation flying high and primed to soar further

By Ian Lyall

April 28 2015, 3:44pm
Avation has a very specific niche – single aisle, twin engine planes such as the Airbus 320 and the French-Italian ATR 72 600, used by 75% of the world’s carriers for short-haul trips. The latter makes up two-thirds of the company’s fleet.
Avation has a very specific niche – single aisle, twin engine planes such as the Airbus 320 and the French-Italian ATR 72 600, used by 75% of the world’s carriers for short-haul trips. The latter makes up two-thirds of the company’s fleet.


The next time you are in a busy departure lounge peering out onto the tarmac, waiting for your flight, bear this tiny pearl of wisdom in mind.

Only half the planes pulling in and out of the stands are owned by the companies whose corporate colours they sport.

The other 50% are supplied by aircraft leasing firms, such as Avation (LON:AVAP), experts in sourcing and financing the work-horses of the sky.

Without these firms the industry would be grounded. For even the big firms, flag fliers such as British Airways owner IAG, need a little help marshalling their assets effectively.

Avation has a very specific niche – single aisle, twin engine planes such as the Airbus 320 and the French-Italian ATR 72 600, used by 75% of the world’s carriers for short-haul trips. The latter makes up two-thirds of the company’s fleet.

Aircraft leasing is on the face of it a reasonably simple business.

Companies such as Avation, and its American rivals Airlease, Aircastle and Avolon, will acquire an aircraft then lease it on – the airline will then take care of all the maintenance.

The skill comes in sourcing the finance, the right aircraft and mitigating the risks involved with the transaction.

The ATR72-600 – a modest twin prop plane that seats 72 – in round numbers, comes in at US$20mln. An Airbus A320 will set you back a tasty US$45mln.

So, if you botch any part of the lease or financing of the deal, you are, as they like to say in London’s East End, in big shtuck.

That Avation has done 29 lease deals with firms such as Virgin Australia, Flybe and Thomas Cook Airlines means it has more than a degree of competence in this arena.

The model, when stripped down, is a little like the template used by property firms.

Avation finances its acquisitions using 75% senior, secured bank debt. A typical plane might be leased on the basis of repaying back to Avation around 144% of the acquisition price over the 12 years of a contract.

They can then be leased out for another 12 years, albeit at lower rate than a brand-spanking-new airliner.

Somewhat counter-intuitively though (and a quirk of depreciation rates versus lease income), the older models yield more than the new inventory.

The sums involved are massive. Even with a modest portfolio the amount of debt Avation has taken on board is eye-watering for a company capitalised at US$115mln, standing at US$330mln. That said, its portfolio is worth over US$500mln.

The average rate of interest paid on the debt is 4.6%, the interim results revealed, down from 5.5% a year earlier.

Avation mitigates the risk posed by a sharp rise in interest rates by borrowing over the term of the lease, rather than over two or three years and constantly refinancing. That way it always knows it will receive more in lease payments than it shells out to the banks.

The banks, meanwhile, are keen to finance leasing deals because a new plane appreciates in value when it is leased out.

So, an ATR 72-600 worth US$20mln might have a net present value of US$25mln once it starts generating a monthly lease fee due to the value of the income stream associated with the lease.

This also has a flattering impact on the bank’s balance sheet and provides an incentive to finance more of these leasing deals.

Now, if your brain is whirring a little at this point, as mine was when I spoke to Avation’s finance director Richard Wolanski, consider this: for the last three to four years his company has been growing at 30% plus annually and has announced contracts that will grow the company by 40% over the next 12 months.

Not just that, the after-tax profit margin is 25% - so it isn’t sacrificing margins in return for growth.

The stock has doubled in value over 24 months as management, led by executive chairman Jeff Chatfield, has delivered.

The plan is to add another 12 planes to its portfolio in the next two years and double its size within about 3 years.

“The beauty of aviation finance is you apply the business model to one plane and you can roll it out to 200 planes. It works exactly the same,” says Wolanski.

“All we are doing is repeating the same thing. We have done it 29 times now.”

It is interesting that even after the sharp rise in the share price in the past two years, the stock is valued at just 6-7 times earnings, where its rivals are valued at 12-15 times.

Avation also trades at a discount to net asset value,where its American quoted peers are usually valued at closer to 1.5 times NAV.

So, whichever way you cut it, there is potential for growth either organically, as Avation adds to its portfolio, or via a stock re-rating.

The broker WH Ireland is predicting revenues of US$58mln this year, rising to US$70.5mln next year and then to US$88.7mln in 2017, giving pre-tax profits of US$17.1mln, US$23.6mln and US$31.2mln respectively.

Domiciled in Singapore, its results will benefit for the next five years from the 10% tax rate paid by certain foreign businesses that locate in the city state.

The broker reckons the stock, currently changing hands for 140p each, is worth 206p.

Wolanski said: “That’s what’s exciting about the company; we have locked in so much future growth and almost eliminated all of the execution risk associated with that growth.”

SMALL-CAP-SHARE-IDEAS-Aircraft-leasing-firm-Avation-set-fly-higher-thanks-new-contractsl

Have it reached the bottom for the moment being?

directors are buying

Director Deals - Avation Plc (AVAP)
on 1 June 2015, Epsom Assets Ltd, a company in which Jeff Chatfield, Chairman of the Company, has an interest, bought 30,000 ordinary shares of 1p each in the Company ("Shares") at a price of 137.5p and 50,000 Shares at 140p.

On the same day, Richard Wolanski, Finance Director of the Company, purchased 10,000 Shares at 137.5p.