http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Thu, 16 Aug 2018 20:18:29 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Avation adds new client as it leases two ATR 72-600 planes to Danish Air Transport ]]> http://www.proactiveinvestors.co.uk/companies/news/202943/avation-adds-new-client-as-it-leases-two-atr-72-600-planes-to-danish-air-transport-202943.html Passenger aircraft leasing group Avation PLC (LON:AVAP) has signed leases with Danish Air Transport for the supply of two new ATR 72-600 aircraft.

The leases are for 12 years and Avation will deliver the twin-engine turboprops in September and October this year.

READ: Avation adds another aircraft to leased fleet

DAT, which operates a fleet of 23 aircraft, is paying for the planes in euros, so Avation has secured matching euro matching euro financing to mitigate its currency exposure.

“The company is pleased to welcome DAT as an addition to the company's airline client base,” said executive chairman Jeff Chatfield.

“The company continually seeks long-term leases and these two 12-year leases align with our strategy. The addition of DAT is also a further step in the strategy of the company to diversify its customer portfolio.”

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Wed, 15 Aug 2018 09:12:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/202943/avation-adds-new-client-as-it-leases-two-atr-72-600-planes-to-danish-air-transport-202943.html
<![CDATA[RNS press release - AVATION PLC LEASES TWO ATR 72-600 AIRCRAFT TO DAT ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180815085147_13756152/ Wed, 15 Aug 2018 08:51:47 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180815085147_13756152/ <![CDATA[News - Avation adds another aircraft to leased fleet ]]> http://www.proactiveinvestors.co.uk/companies/news/201232/avation-adds-another-aircraft-to-leased-fleet-201232.html Avation PLC (LON:AVAP) told investors that it has acquired and leased a second new Airbus A220-300 aircraft to airBaltic.

It is a 12-year lease, beginning July 19, and it is priced at the market rate.

"We have expanded our fleet with a second delivery to Air Baltic and we are proud to be associated with this growing and popular airline,” said Jeff Chatfield, Avation executive chairman.

READ: Avation estimates revenue jump for full-year

“The Bombardier CS300 aircraft has been rebranded the Airbus A220-300 following completion of the acquisition of a majority stake in the C Series Aircraft Limited Partnership by Airbus.

“The A220-300 seats 130-160 passengers and has a range of up to 3,300 nautical miles. Avation is pleased to be involved with this programme as a Lessor and we are optimistic about the sales prospects for this new-technology, fuel efficient aircraft type."

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Fri, 20 Jul 2018 10:53:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/201232/avation-adds-another-aircraft-to-leased-fleet-201232.html
<![CDATA[RNS press release - Acquisition ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180720101803_13725745/ Fri, 20 Jul 2018 10:18:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180720101803_13725745/ <![CDATA[RNS press release - CFO APPOINTMENT AND RESULTS TIMETABLE CORRECTION ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180718071803_13722027/ Wed, 18 Jul 2018 07:18:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180718071803_13722027/ <![CDATA[News - Avation estimates revenue jump for full-year following fleet expansion ]]> http://www.proactiveinvestors.co.uk/companies/news/199921/avation-estimates-revenue-jump-for-full-year-following-fleet-expansion-199921.html Avation PLC (LON:AVAP) has predicted a revenue jump in a trading update ahead of its full-year results following an expansion in its fleet of aircraft.

The commercial aircraft leasing group said its business was operating in line with expectations, with revenue for the full-year estimated at around US$109mln, over 15% higher than the previous year.

READ: Avation delivers first CS300 aircraft to airBaltic

Avation’s executive chairman, Jeff Chatfield, said the group had also expanded its fleet size by almost 40% over the previous year, with two additional new aircraft scheduled for delivery early into the new financial year.

The group also said it had completed a US$300mln issue of notes under a US$1bn Global Medium Term Note (GMTN) programme.

Avation added that following the notes issue Fitch Ratings had upgraded its corporate credit rating to ‘BB-‘ from ‘B+’, with its outlook stable.

The company will release its full-year results for the year ended 30 June 2018 on September 6.

In lunchtime trading Monday, Avation shares were up 1.7% at 228.5p.

-- Adds share price --

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Mon, 02 Jul 2018 07:23:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/199921/avation-estimates-revenue-jump-for-full-year-following-fleet-expansion-199921.html
<![CDATA[RNS press release - INTERIM MANAGEMENT STATEMENT ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180702070003_13700440/ Mon, 02 Jul 2018 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180702070003_13700440/ <![CDATA[News - Avation delivers first CS300 aircraft to airBaltic ]]> http://www.proactiveinvestors.co.uk/companies/news/199005/avation-delivers-first-cs300-aircraft-to-airbaltic-199005.html Avation PLC (LON:AVAP) has announced it has acquired and leased one factory new C Series CS300 aircraft to airBaltic, the Latvian hybrid carrier.

The commercial passenger aircraft leasing company said the lease commenced on 15 June 2018 and is for 12 years and is at market lease rates.

READ: Avation inks long-term lease agreements with airBaltic for two new Bombardier CS300s

Jeff Chatfield, executive chairman of Avation, said: “This aircraft is the first acquisition in a series of two aircraft.”

He added: “It is the first delivery for Avation of the new-technology single-aisle CS300 aircraft and we are pleased to be involved as a Lessor to the programme.”

“The addition of this new aircraft type and new customer further enhances the diversity of the company’s portfolio,” he concluded.

 

 

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Mon, 18 Jun 2018 07:56:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/199005/avation-delivers-first-cs300-aircraft-to-airbaltic-199005.html
<![CDATA[RNS press release - FIRST CS300 DELIVERY TO AIR BALTIC ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180618070004_13682602/ Mon, 18 Jun 2018 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180618070004_13682602/ <![CDATA[News - Avation inks long-term lease agreements with airBaltic for two new Bombardier CS300s ]]> http://www.proactiveinvestors.co.uk/companies/news/198765/avation-inks-long-term-lease-agreements-with-airbaltic-for-two-new-bombardier-cs300s-198765.html Avation PLC (LON:AVAP) is to lease out two new Bombardier CS300 planes to Latvian airline airBaltic.

The leases are both for 12 years and will be delivered to the airline straight from the factory.

READ: Avation signs 12-year operating lease with Taiwanese air transport group

Bombardier’s C Series the only new-technology single-aisle aircraft specifically designed to serve the 100-150 seat market, Avation said.

“The company is pleased to welcome airBaltic as an addition to the company's airline client base,” said executive chairman Jeff Chatfield.

“The company seeks long-term leases and these two 12-year leases align with our strategy. The company continues to diversify its aircraft portfolio and recognises the importance of new technology single-aisle aircraft such as the CS300.”

He added: “Avation has a view that the C Series joint venture with Airbus and Bombardier may increase sales volume of the programme.”

Avation shares edged 0.7% higher to 217p in early deals.

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Wed, 13 Jun 2018 08:24:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/198765/avation-inks-long-term-lease-agreements-with-airbaltic-for-two-new-bombardier-cs300s-198765.html
<![CDATA[RNS press release - AVATION PLC LEASES TWO BOMBARDIER CS300 ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180613070005_13677189/ Wed, 13 Jun 2018 07:00:05 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180613070005_13677189/ <![CDATA[News - Avation signs twelve year operating lease with Taiwanese air transport company ]]> http://www.proactiveinvestors.co.uk/companies/news/198097/avation-signs-twelve-year-operating-lease-with-taiwanese-air-transport-company-198097.html Avation PLC (LON:AVAP) has secured a twelve-year operating lease to supply one ATR 72-600 aircraft to Far Eastern Air Transport Corp of Taiwan.

The commercial aircraft leasing group said it had entered into a conditional letter of intent with Far Eastern Air and would begin configuration of the aircraft to customer specifications for an expected delivery in September 2018.

READ: Avation extends long-term lease on Airbus A320 aircraft by a further seven years

The company added that it had now placed one out of the three remaining 2018 ATR 72 deliveries in its aircraft order book.

Jeff Chatfield, executive chairman of Avation, said: "Avation's strategy is to continue to diversify its lessee operator base and we welcome Far Eastern Air Transport Corp. of Taiwan as a customer. The ATR 72 is still the most popular and, on a per-seat-basis, the most fuel efficient commercial turboprop aircraft globally."

In May, the company said it had extended the lease for an Airbus A320 aircraft by a further seven years.

The company said the lease for the aircraft was due to expire on 18 May 2018 but has now been extended to 18 May 2025 with the existing operator.

In late morning trading, Avation shares were up 0.23% at 218p.

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Fri, 01 Jun 2018 11:06:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/198097/avation-signs-twelve-year-operating-lease-with-taiwanese-air-transport-company-198097.html
<![CDATA[RNS press release - SENIOR NOTES REDEMPTION AND DIRECTORS' DEALING ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180601105419_13663667/ Fri, 01 Jun 2018 10:54:19 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180601105419_13663667/ <![CDATA[RNS press release - LONG-TERM AIRCRAFT LEASE ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180601102336_13663567/ Fri, 01 Jun 2018 10:23:36 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180601102336_13663567/ <![CDATA[News - Avation extends long-term lease on Airbus A320 aircraft by a further seven years ]]> http://www.proactiveinvestors.co.uk/companies/news/196803/avation-extends-long-term-lease-on-airbus-a320-aircraft-by-a-further-seven-years-196803.html Avation PLC (LON:AVAP) has announced that it has extended the lease for an Airbus A320 aircraft by a further seven years.

The company said the lease for the aircraft was due to expire on 18 May 2018 but has now been extended to 18 May 2025 with the existing operator.

READ: Avation credit rating outlook revised to positive by Standard & Poor’s

The commercial passenger aircraft leasing company said the lease is at market rate for the age of the aircraft.

Following the process of entering into this lease extension, the company added, it now has no operating leases due to expire until the year 2021.

Jeff Chatfield, Avation's executive chairman, said: “The company seeks long duration operating leases and seeks to reduce near term remarketing risk.”

He added: “A seven year lease extension with the existing airline on A320-232 with serial number 1922 fits within company’s strategy.”

“Concurrently with entering into this lease extension we will repay the bank loan secured on the aircraft which will then be an unencumbered asset of the company,” he concluded.  

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Fri, 11 May 2018 07:24:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/196803/avation-extends-long-term-lease-on-airbus-a320-aircraft-by-a-further-seven-years-196803.html
<![CDATA[RNS press release - LONG-TERM AIRCRAFT LEASE AND EXPIRY HORIZON ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180511070002_13637169/ Fri, 11 May 2018 07:00:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180511070002_13637169/ <![CDATA[RNS press release - REDEMPTION OF 7.5% SENIOR NOTES DUE 2020 ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180510085359_13636043/ Thu, 10 May 2018 08:53:59 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180510085359_13636043/ <![CDATA[RNS press release - PRICING OF 6.5% SENIOR NOTES DUE 2021 ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180504070004_13629770/ Fri, 04 May 2018 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180504070004_13629770/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180430070006_13622674/ Mon, 30 Apr 2018 07:00:06 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180430070006_13622674/ <![CDATA[RNS press release - UPDATE OF $1B GLOBAL MEDIUM TERM NOTE PROGRAMME ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180424092724_13616052/ Tue, 24 Apr 2018 09:27:24 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180424092724_13616052/ <![CDATA[News - Avation credit rating outlook revised to positive by Standard & Poor's ]]> http://www.proactiveinvestors.co.uk/companies/news/195071/avation-credit-rating-outlook-revised-to-positive-by-standard-poor-s-195071.html Avation PLC (LON:AVAP) said its credit rating outlook has been revised to ‘Positive’ from ‘Stable’ by ratings agency Standard & Poor’s (S&P).

WATCH: Avation PLC's 'never looked stronger' - CFO Richard Wolanski

The commercial aircraft leasing company said S&P had also affirmed their ‘B+’ long-term issuer credit rating as well as their ‘B’ long-term issue rating on the medium-term notes program that Avation guarantees and the US$150mln senior unsecured notes under the program.

Avation shares were steady at 222.5p in late-afternoon trading Monday.

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Mon, 16 Apr 2018 15:38:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/195071/avation-credit-rating-outlook-revised-to-positive-by-standard-poor-s-195071.html
<![CDATA[RNS press release - CREDIT RATING ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180416144026_13606146/ Mon, 16 Apr 2018 14:40:26 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180416144026_13606146/ <![CDATA[RNS press release - ADMISSION OF NEW SHARES AND TOTAL VOTING RIGHTS ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180326084547_13580702/ Mon, 26 Mar 2018 08:45:47 +0100 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180326084547_13580702/ <![CDATA[RNS press release - ISSUE OF EQUITY ON EXERCISE OF WARRANTS ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180320070002_13572782/ Tue, 20 Mar 2018 07:00:02 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180320070002_13572782/ <![CDATA[News - Avation's lease income to rise by nearly a fifth says finance boss ]]> http://www.proactiveinvestors.co.uk/companies/news/193101/avation-s-lease-income-to-rise-by-nearly-a-fifth-says-finance-boss-193101.html Richard Wolanski, aircraft lessor Avation PLC’s (LON:AVAP) chief financial officer, has told Proactive he expects bumper revenues in the second half of the year.

The group ended the first half of the year (December) with 37 aircraft, a record size for its fleet, but the full benefit only started to come through from January.

WATCH: Avation PLC's 'never looked stronger' - CFO Richard Wolanski

“In terms of revenue guidance, because we have that record fleet all through the second half of the financial year we are collecting about US$9.6mln a month in lease revenues.

“Keep in mind that the reported half-year revenue number was about US$42mln, any simple maths will tell you that 9.6×6 months will see us generating over US$57.5mln in lease revenue in the second half.

“Now that’s the clearest guidance we can give on revenue and that's the clearest guidance we’ve ever given on revenue.

“It’s going to be a very large leap from the first half to the second half.”

"That’s the nature of these assets if you buy aircraft in December," he added.

US$57.5mln revenue in second half 

“While they turn up on the balance sheet those assets obviously haven’t generated any rent or only for a few days in December and so they’re going to be generating lease revenue all through the second half and so it’s going to be a very strong second half.”

Avation earned lease revenues of US$49.1mln in the second half of 2016/17, so revenue of US$57.5mln would equal an uplift of at least 17%.

The acquisition of the aircraft in December also meant the fleet’s value topped US$1bln for the first time.

It is the youngest ever fleet with the longest attached lease terms ever in the history of the company, Wolanski added, so as a portfolio of income-producing assets "we've never looked stronger".

“We’ve been going now for 12 years and the business model is to buy brand-new aircraft and lease them for long periods of time to the airlines.

“The risks that we face are in the residual value of the aircraft that we have to buy and sell at periods of time and (because these airlines are paying us rent effectively) to diversify into a broader range of very strong airline customers."

Four strong customers added

On that front, he said Avation has added four new airline customers to take the total to 12 from 8.

“The four airline customers that we picked up are among the strongest on our books:  EasyJet, but also Philippine Airlines, Eva Air and Mandarin Airlines, so a couple in Asia as well.”

“I think if you look at the history of Avation, we’ve never changed our business model.

Double every 2 and half years

“We’ve been around for 12 years and certainly in the last five or six years the reason why investors look to this stock and buy the stock is while we do pay a 2% yield dividend, this is a company that doubles in size on average about every two and a half years and if you look at the last five or six years the share price has followed that.

“We have just delivered 35% asset growth in the first half of the financial year, you’ll see the lease revenue and the earnings from that growth be generated in the second half and for all periods to come.

"We’re still 10% off our record highs in terms of share price, but the company's never been larger, the rental roll has never been bigger, the revenues have never been bigger and the earnings are certainly going to be strong.”

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Tue, 13 Mar 2018 15:14:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/193101/avation-s-lease-income-to-rise-by-nearly-a-fifth-says-finance-boss-193101.html
<![CDATA[Media files - Avation PLC's 'never looked stronger' - CFO Richard Wolanski ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8872/avation-plc-s-never-looked-stronger-cfo-richard-wolanski-8872.html Tue, 13 Mar 2018 12:49:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8872/avation-plc-s-never-looked-stronger-cfo-richard-wolanski-8872.html <![CDATA[News - Avation expects revenue pick-up as fleet value tops US$1bn ]]> http://www.proactiveinvestors.co.uk/companies/news/192159/avation-expects-revenue-pick-up-as-fleet-value-tops-us1bn-192159.html Civil airline lessor Avation PLC’s (LON:AVAP) fleet is now worth over US$1bn following a spate of purchases in December.

Avation started to re-jig its portfolio last June when it sold six ATR turbo-prop planes, which it replaced with its first twin-aisled jet (a Boeing 777-300ER) and three others in December.

READ: Avation confirms delivery of Airbus A320-200 to easyJet

Jeff Chatfield, executive chairman, added that he expects a material increase in lease revenue over the remainder of the year as a result of the re-shaped fleet.

Four new airlines have become customers, while the fleet now comprises 37 aircraft.

The bulk of the jets are Airbuses (12) alongside 19 ATR turbo-props.

WATCH: Avation PLC's 'never looked stronger' - CFO Richard Wolanski

Avation posted lower lease income of US$41.7mln (US$45.1mln) due to the reduction of the fleet at the start of this latest half-year though total revenues rose by 16% to US$52.4mln.

Interim profits to December dropped 13% to US$7.72mln, though cash inflow more than doubled to US$64.3mln.

Chatfield said the lower lease revenue reflected Avation starting the period with a smaller fleet following the ATR sale.

“The sale of these aircraft de-risked the portfolio by lowering airline concentration and released equity which facilitated the acquisition of four new aircraft in December 2017.”

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Mon, 26 Feb 2018 07:37:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/192159/avation-expects-revenue-pick-up-as-fleet-value-tops-us1bn-192159.html
<![CDATA[RNS press release - Half-year Report ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180226070002_13544898/ Mon, 26 Feb 2018 07:00:02 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180226070002_13544898/ <![CDATA[RNS press release - FIRST HALF 2018 RESULTS AND INVESTOR UPDATE CALL ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180219070002_13537076/ Mon, 19 Feb 2018 07:00:02 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180219070002_13537076/ <![CDATA[RNS press release - ADMISSION OF NEW ORDINARY SHARES AND DIRS DEALING ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180126094710_13510903/ Fri, 26 Jan 2018 09:47:10 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180126094710_13510903/ <![CDATA[RNS press release - ISSUE OF EQUITY ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180119113530_13503001/ Fri, 19 Jan 2018 11:35:30 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180119113530_13503001/ <![CDATA[RNS press release - MANDARIN EXPECT ENTRY INTO SERVICE IN FEBRUARY ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180116115155_13498136/ Tue, 16 Jan 2018 11:51:55 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180116115155_13498136/ <![CDATA[RNS press release - Issue of Equity ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180102070003_13481209/ Tue, 02 Jan 2018 07:00:03 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20180102070003_13481209/ <![CDATA[News - Avation completes deliveries to Mandarin Airlines ]]> http://www.proactiveinvestors.co.uk/companies/news/189337/avation-completes-deliveries-to-mandarin-airlines-189337.html Aircraft lessor Avation PLC (LON:AVAP) has delivered a third new ATR 72-600 aircraft to Mandarin Airlines, a subsidiary of Taiwan's flag carrier, China Airlines.

Jeff Chatfield, Avation’s executive chairman, said: "We are pleased to have completed this delivery programme before the end of 2017 and to be the lessor selected by Mandarin Airlines to introduce the ATR 72-600 into their fleet.

READ: Avation confirms delivery of Airbus A320-200 to easyJet

“Globally the ATR 72-600 is the most popular regional turboprop aircraft and provides our airline customers with the most cost effective solution for regional operations.

READ: Avation makes first twin-aisle aircraft delivery

“This aircraft [MSN1473] is the company's 31st ATR 72-600 new aircraft delivery."

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Fri, 29 Dec 2017 09:48:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/189337/avation-completes-deliveries-to-mandarin-airlines-189337.html
<![CDATA[RNS press release - THIRD ATR 72-600 DELIVERY TO MANDARIN AIRLINES ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171229083153_13480179/ Fri, 29 Dec 2017 08:31:53 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171229083153_13480179/ <![CDATA[RNS press release - AIRBUS A330 ACQUISITION ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171222123050_13476346/ Fri, 22 Dec 2017 12:30:50 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171222123050_13476346/ <![CDATA[RNS press release - APPOINTMENT OF LEGAL COUNSEL ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171222074738_13475604/ Fri, 22 Dec 2017 07:47:38 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171222074738_13475604/ <![CDATA[News - Avation confirms delivery of Airbus A320-200 to easyJet ]]> http://www.proactiveinvestors.co.uk/companies/news/189217/avation-confirms-delivery-of-airbus-a320-200-to-easyjet-189217.html Aircraft leasing group Avation PLC (LON:AVAP) has completed delivery of an Airbus A320-200 to easyJet PLC (LON:EZJ).

A letter of intent was signed back in October but the lease was dependent on easyJet’s partial purchase of Air Berlin – the now defunct German carrier which formerly leased the plane in question.

READ: Avation planning to address shares' discount to net asset value "when conditions permit"

easyJet has now received approval from the European Commission to press ahead with its acquisition.

As Avation stated back in October, the lease rate and duration are typical for an aircraft of this type.

“We are pleased to have entered into a new lease with easyJet for this Airbus A320, allowing a transition of this aircraft from the now-defunct Air Berlin to an airline of such high regard as easyJet,” said executive chairman Jeff Chatfield.

READ: Avation makes first twin-aisle aircraft delivery

“In our view it was pleasing to see such a prompt and commercially seamless aircraft transition.”

Separately, the company announced that it has completed the acquisition of one twin-aisle Airbus A330 aircraft.The aircraft is on lease to EVA Air of Taiwan.

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Fri, 22 Dec 2017 07:27:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/189217/avation-confirms-delivery-of-airbus-a320-200-to-easyjet-189217.html
<![CDATA[RNS press release - AIRBUS AIRCRAFT TRANSITION ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171222070001_13475171/ Fri, 22 Dec 2017 07:00:01 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171222070001_13475171/ <![CDATA[RNS press release - Result of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171220102249_13472435/ Wed, 20 Dec 2017 10:22:49 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171220102249_13472435/ <![CDATA[News - Avation planning to address shares' discount to net asset value "when conditions permit" ]]> http://www.proactiveinvestors.co.uk/companies/news/189079/avation-planning-to-address-shares-discount-to-net-asset-value-when-conditions-permit--189079.html Aircraft leasing specialist Avation PLC (LON:AVAP) expects to see growth in reported revenues in the second half of the current financial year.

At today's annual general meeting, executive chairman Jeff Chatfield is set to tell shareholders that the company has passed a milestone in having more than US$1bn in assets, and also noted in passing that the shares trade at a discount to net asset value (NAV) per share.

READ: Avation makes first twin-aisle aircraft delivery

Having pointedly referred to the discount to NAV at which the shares trade, Chatfield said the company would attempt to narrow/eradicate this discount by using “capital management techniques when conditions permit”.

The fleet currently consists of 37 aircraft with a weighted average age of 2.9 years and a weighted average lease duration of 7.9 years.

"Avation is now a full-service aircraft lessor providing regional, narrow-body and twin-aisle aircraft. We have evolved over the last six years from originally being a jet lessor to also leasing out regional turbo-prop aircraft,” Chatfield's statement said.

“We have recently expanded our offering to include large twin-aisle aircraft. The rationale for including a small number of twin-aisle aircraft in the fleet is to match the mix of equipment commonly used by airline operators.

READ: Avation secures aircraft revolving facility agreement with leading international bank

"Airlines operate in some or all segments of regional, narrow body and twin-aisle aircraft; therefore, it is natural for an aircraft lessor to have a broad product offering that matches the real world of business opportunity,” Chatfield explained.

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Wed, 20 Dec 2017 09:15:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/189079/avation-planning-to-address-shares-discount-to-net-asset-value-when-conditions-permit--189079.html
<![CDATA[RNS press release - AGM, INTERIM MANAGEMENT STATEMENT & TRADING UPDATE ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171220071617_13472121/ Wed, 20 Dec 2017 07:16:17 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171220071617_13472121/ <![CDATA[News - Avation makes first twin-aisle aircraft delivery ]]> http://www.proactiveinvestors.co.uk/companies/news/188935/avation-makes-first-twin-aisle-aircraft-delivery-188935.html Aircraft leasing company Avation PLC (LON:AVAP) has acquired and delivered into service a new Boeing 777-300ER commercial passenger aircraft.

The new Boeing 777-300ER aircraft is on a long-term lease at typical commercial rates for such aircraft with Philippine Airlines.

READ: Avation secures aircraft revolving facility agreement with leading international bank

"We're pleased our first twin-aisle delivery is a Boeing 777, the marquee airplane in its class. We're confident this airplane will complement our regional and single-aisle fleet and help Avation continue to grow as a full-service commercial aircraft lessor," said Jeff Chatfield, the executive chairman of Avation.

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Mon, 18 Dec 2017 08:07:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/188935/avation-makes-first-twin-aisle-aircraft-delivery-188935.html
<![CDATA[RNS press release - Boeing Avation Deliver Philippine Airlines 777-300 ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171218070002_13468302/ Mon, 18 Dec 2017 07:00:02 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171218070002_13468302/ <![CDATA[News - Avation secures aircraft revolving facility agreement with leading international bank ]]> http://www.proactiveinvestors.co.uk/companies/news/188783/avation-secures-aircraft-revolving-facility-agreement-with-leading-international-bank-188783.html Avation PLC (LON:AVAP) has entered into a secured aircraft revolving facility agreement with a leading international bank which will be used to finance aircraft or part portfolios of passenger aircraft on lease to commercial airlines.

The firm said the initial facility amount is US$100mln with interest based on either fixed or floating rates. The optimal duration for loans under the facility is up to 36 months.

READ: Avation delivers aircraft for lease to Mandarin Airlines

It added that the aircraft financed by the facility must satisfy certain agreed criteria which include airline credit, minimum lease duration and aircraft type.

READ: Avation takes out options on more aircraft

Avation PLC ‘s executive chairman Jeff Chatfield commented: "This Facility provides for rapid purchase funding of new or on lease aircraft and is a useful finance mechanism for trading acquisitions for durations of the short to medium term."

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Thu, 14 Dec 2017 08:13:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/188783/avation-secures-aircraft-revolving-facility-agreement-with-leading-international-bank-188783.html
<![CDATA[RNS press release - SECURED AIRCRAFT REVOLVING FACILITY AGREEMENT ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171214070002_13464815/ Thu, 14 Dec 2017 07:00:02 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171214070002_13464815/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171208135535_13459424/ Fri, 08 Dec 2017 13:55:35 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171208135535_13459424/ <![CDATA[News - Avation delivers aircraft for lease to Mandarin Airlines ]]> http://www.proactiveinvestors.co.uk/companies/news/188263/avation-delivers-aircraft-for-lease-to-mandarin-airlines-188263.html Avation PLC (LON:AVAP) has delivered the second of three ATR 72-600 aircraft to Mandarin Airlines under leases agreed earlier this year.

The commercial passenger aircraft leasing company will deliver the third aircraft to the airline, a subsidiary of Taiwan's flag carrier China Airlines, before the end of the year. The leases, announced on July 19, are at market rates and will last for eight years.

READ: Avation delivers first of three ATR 72-600 planes to Mandarin Airlines

"We are proud to be supporting Mandarin Airlines' fleet programme and to be delivering a second new ATR 72-600 aircraft,” said Avation executive chairman, Jeff Chatfield.

“The ATR 72-600 is the most popular turboprop aircraft and provides our airline customers with the most cost effective and environmentally friendly solution for regional airlines."

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Tue, 05 Dec 2017 09:44:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/188263/avation-delivers-aircraft-for-lease-to-mandarin-airlines-188263.html
<![CDATA[RNS press release - SECOND ATR 72-600 DELIVERY TO MANDARIN AIRLINES ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171205091602_13454165/ Tue, 05 Dec 2017 09:16:02 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171205091602_13454165/ <![CDATA[RNS press release - WARRANT ISSUE AND DIRECTORS' DEALING ]]> http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171127102833_13444702/ Mon, 27 Nov 2017 10:28:33 +0000 http://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20171127102833_13444702/