Avation (AVAP)

Sector:

Commercial Transport

169.00p
   
  • Change Today:
    -0.50p
  • 52 Week High: 177.00
  • 52 Week Low: 106.00
  • Currency: UK Pounds
  • Shares Issued: 70.88m
  • Volume: 350,499
  • Market Cap: £119.78m

Avation delivers first of five 'greener' aircraft to Braathens Regional

By Josh White

Date: Thursday 19 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Commercial passenger aircraft leasing company Avation has delivered the first in a series of five new ATR 72-600 turboprop aircraft to Braathens Regional Airways (BRA), it announced on Thursday, at the ATR facility in Toulouse, France.
The London-listed firm said Braathens was its 18th airline customer.

It also said it was advised that it was the first ever commercial aircraft financed with a 'Green Loan', which was provided by Deutsche Bank.

Avation said Vigeo Eiris, a leading institution for environmental, social and governance ratings, had said that the project of replacing aging regional jets with new ATR 72-600 aircraft was aligned with the Loan Market Association's 'Green Loan Principles' guidelines for 2018.

"We express a reasonable assurance - our highest level of assurance - on the borrower's commitments and on the loan's contribution to sustainability," Vigeo Eiris said in its opinion.

That, Avation said, reinforced the environmental benefits of the modern ATR turboprop aircraft, which emitted 40% less carbon dioxide than a comparable regional jet, largely due to its latest generation turboprop engines.

ATR 72 aircraft currently comprised 26 aircraft out of Avation's total fleet of 48 aircraft.

Together with other fuel-efficient and lower carbon aircraft in the fleet, they comprised more than 50% of Avation's overall fleet.

"As a lessor, it is essential for us to progress our fleet into new technology low carbon emission aircraft such as the ATR 72-600 which maintain their value over a long period," said executive chairman Jeff Chatfield.

"BRA's decision to consolidate their own operation around the ATR 72-600 aircraft type demonstrates their understanding of the regional aviation market and the importance of reducing carbon emissions.

"BRA is an airline that is leading the way in terms of striving to offer their passengers the best possible experience, whilst optimising operations and minimising environmental impact."

Chatfield said the company anticipated financing cost improvements as a result of those Green Finance initiatives, as the market developed.

"Avation will be ideally placed due to an improving credit rating outlook and its modern technology, new, fuel efficient and lower carbon aircraft fleet."

At 0826 GMT, shares in Avation were up 0.15% at 268.9p.

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 169.00p
Change Today -0.50p
% Change -0.30 %
52 Week High 177.00
52 Week Low 106.00
Volume 350,499
Shares Issued 70.88m
Market Cap £119.78m

Avation Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
9.14% above the market average9.14% above the market average9.14% above the market average9.14% above the market average9.14% above the market average
9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average
Price Trend
90.89% above the market average90.89% above the market average90.89% above the market average90.89% above the market average90.89% 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
Income Not Available
Growth
57.49% above the market average57.49% above the market average57.49% above the market average57.49% above the market average57.49% above the market average
81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
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 31-Oct-2024

Time Volume / Share Price
16:35 17,656 @ 169.00p
16:35 513 @ 169.00p
16:35 668 @ 169.00p
16:35 2,784 @ 169.00p
16:35 1,900 @ 169.00p

Top of Page