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 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.

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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

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