Proactiveinvestors United Kingdom Avation PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Avation PLC RSS feed en Wed, 22 May 2019 11:59:55 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Avation delivers sixth Airbus A220-300 to airBaltic ]]> https://www.proactiveinvestors.co.uk/companies/news/220414/avation-delivers-sixth-airbus-a220-300-to-airbaltic-220414.html Avation PLC (LON:AVAP) has delivered its sixth new Airbus A220-300 aircraft to Latvian based carrier airBaltic.

The aircraft leasing firm said the 12-year lease for the aircraft commenced on 15 May and was the last in the series of aircraft contracted to airBaltic.

WATCH: Avation aims to double the size of its fleet

"We are pleased to take delivery of our sixth latest technology A220-300 aircraft for our customer airBaltic”, said Jeff Chatfield, Avation’s executive chairman.

“This latest addition to our fleet is the last in the current series of sale and leaseback transactions agreed with airBaltic.  This aircraft grows our overall fleet to 45 commercial passenger aircraft with a further 13 on order out to the year 2022."

In mid-morning trading on Thursday, Avation shares were 0.3% lower at 291p.

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Thu, 16 May 2019 10:52:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220414/avation-delivers-sixth-airbus-a220-300-to-airbaltic-220414.html
<![CDATA[RNS press release - SIXTH AIRBUS A220-300 DELIVERY TO AIRBALTIC ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190516093848_14076538/ Thu, 16 May 2019 09:38:48 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190516093848_14076538/ <![CDATA[Media files - Avation aims to double the size of its fleet ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13339/avation-aims-to-double-the-size-of-its-fleet-13339.html Tue, 14 May 2019 09:05:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13339/avation-aims-to-double-the-size-of-its-fleet-13339.html <![CDATA[News - Avation adds new customer in the Philippines ]]> https://www.proactiveinvestors.co.uk/companies/news/220110/avation-adds-new-customer-in-the-philippines-220110.html Avation PLC (LON:AVAP) has added Cebu Air, the largest domestic airline in the Philippines, to its growing roster of customers.

Cebu will take control of a new ATR 72-600 turboprop aircraft to be delivered on 24 May through a sale and leaseback deal with Avation.

WATCH: Avation aims to double its fleet in next 7 years

The airline flies internationally to 26 destinations as well as domestically in the Philippines and has been consistently profitable since its IPO in 2010, Avation added. 

Financing terms for the aircraft were good said executive chairman Jeff Chatfield.

"We are very pleased to add an additional fuel-efficient ATR 72-600 aircraft to our fleet and to welcome Cebu Pacific as a new customer.”

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Mon, 13 May 2019 07:57:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220110/avation-adds-new-customer-in-the-philippines-220110.html
<![CDATA[RNS press release - ATR 72-600 SALE AND LEASEBACK TRANSACTION ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190513070004_14070606/ Mon, 13 May 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190513070004_14070606/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190507070003_14063685/ Tue, 07 May 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190507070003_14063685/ <![CDATA[News - Avation’s airBaltic deal wins ‘Operating Lease Deal of the Year 2018’ from AirFinance Journal ]]> https://www.proactiveinvestors.co.uk/companies/news/219639/avations-airbaltic-deal-wins-operating-lease-deal-of-the-year-2018-from-airfinance-journal-219639.html Avation PLC’s (LON:AVAP) deal with airBaltic has won the ‘Operating Lease Deal of the Year 2018’ award from industry publication Airfinance Journal at its Deal of the Year Awards in New York.

The aircraft leasing firm said it had received the award for a sale and leaseback of two Airbus A220-300 aircraft from the Latvian carrier last year.

READ: Avation granted further 5-year tax incentive under Singapore’s Aircraft Leasing Scheme

The deal was the industry’s first open market sale and leaseback of an A220-300 in a transaction that combined a non-mainstream asset with a relatively untested credit, a perceived ambitious price and a euro-denominated rental target.

Avation’s executive chairman Jeff Chatfield said: "we remain committed to expanding our fleet with new technology aircraft for a diverse range of clients and believe that the A220 will attract a broad operator base and maintain a strong residual value outlook."

In mid-morning trading on Friday, Avation shares were down 1.4% at 290p.

--Adds share price--

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Fri, 03 May 2019 07:56:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219639/avations-airbaltic-deal-wins-operating-lease-deal-of-the-year-2018-from-airfinance-journal-219639.html
<![CDATA[RNS press release - AIRFINANCE JOURNAL AWARD ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190503070004_14061838/ Fri, 03 May 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190503070004_14061838/ <![CDATA[News - Avation granted further 5-year tax incentive under Singapore’s Aircraft Leasing Scheme ]]> https://www.proactiveinvestors.co.uk/companies/news/219583/avation-granted-further-5-year-tax-incentive-under-singapores-aircraft-leasing-scheme-219583.html Avation PLC (LON:AVAP) announced that its main operating subsidiaries have been granted a further 5-year tax incentive in Singapore under the Aircraft Leasing Scheme.

The commercial passenger aircraft leasing company pointed out that it has its headquarters in Singapore and the majority of the group's operations will benefit from this tax incentive, subject to meeting applicable terms and conditions.

READ: Avation delivers fifth Airbus A220-300 to Latvian carrier airBaltic

The group noted that Singapore’s Aircraft Leasing Scheme provides for a concessionary tax rate on income derived from aircraft and aircraft engine leasing and exemption from withholding tax on qualifying loans. 

The 5-year renewal period for the incentive commenced on 17 April 2019.

Avation's Executive chairman, Jeff Chatfield commented: "We are pleased to have successfully renewed our membership of Singapore's Aircraft Leasing Scheme which provides substantial tax benefits to the group."

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Thu, 02 May 2019 14:04:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219583/avation-granted-further-5-year-tax-incentive-under-singapores-aircraft-leasing-scheme-219583.html
<![CDATA[RNS press release - RENEWAL OF SINGAPORE TAX INCENTIVE ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190502133547_14061255/ Thu, 02 May 2019 13:35:47 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190502133547_14061255/ <![CDATA[News - Avation delivers fifth Airbus A220-300 to Latvian carrier airBaltic ]]> https://www.proactiveinvestors.co.uk/companies/news/219226/avation-delivers-fifth-airbus-a220-300-to-latvian-carrier-airbaltic-219226.html Avation PLC (LON:AVAP) has acquired and leased its fifth Airbus A220-300 aircraft to Latvian carrier airBaltic.

The commercial aircraft leasing firm said the lease for the aircraft was for 12 years and had started on 26 April.

READ: Avation acquires Boeing 737-800 NG aircraft

Jeff Chatfield, Avation’s executive chairman, said the new aircraft had grown the company’s overall fleet to 44 planes with another 12 on order out to 2022.

"We are pleased to take delivery of our fifth of these latest technology aircraft for our customer airBaltic”.

It is the second A220-300 the company has delivered to airBaltic this month, having leased another aircraft to the carrier on 1 April.

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Mon, 29 Apr 2019 07:23:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219226/avation-delivers-fifth-airbus-a220-300-to-latvian-carrier-airbaltic-219226.html
<![CDATA[RNS press release - FIFTH AIRBUS A220-300 DELIVERY TO AIRBALTIC ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190429070004_14054472/ Mon, 29 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190429070004_14054472/ <![CDATA[RNS press release - FOURTH AIRBUS A220-300 DELIVERY TO AIRBALTIC ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190401070004_14022377/ Mon, 01 Apr 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190401070004_14022377/ <![CDATA[News - Avation acquires Boeing 737-800 NG aircraft ]]> https://www.proactiveinvestors.co.uk/companies/news/217402/avation-acquires-boeing-737-800-ng-aircraft-217402.html Avation PLC (LON:AVAP) has acquired a Boeing 737-800 Next Generation (NG) aircraft on the secondary market.

The aircraft leasing firm said the acquisition was expected to complete in the second quarter of 2019.

READ: Avation acquires and leases third new Airbus A220-300 aircraft to Latvian hybrid carrier, airBaltic

The plane, which is eight years old and the second Boeing aircraft in Avation’s portfolio, is currently on an operating lease with Indonesian airline Garuda until mid-2022.

Jeff Chatfield, executive chairman of Avation, said the 737-800, “one of the most successful and popular aircraft types ever made”, had “good residual value”.

In early trading on Thursday, Avation shares were up 0.2% at 283p.

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Thu, 28 Mar 2019 08:57:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217402/avation-acquires-boeing-737-800-ng-aircraft-217402.html
<![CDATA[RNS press release - BOEING 737-800 NG ACQUISITION ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190328081521_14019194/ Thu, 28 Mar 2019 08:15:21 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190328081521_14019194/ <![CDATA[News - Avation acquires and leases third new Airbus A220-300 aircraft to Latvian hybrid carrier, airBaltic ]]> https://www.proactiveinvestors.co.uk/companies/news/217295/avation-acquires-and-leases-third-new-airbus-a220-300-aircraft-to-latvian-hybrid-carrier-airbaltic-217295.html Avation PLC (LON:AVAP) has acquired and leased a third new Airbus A220-300 aircraft to airBaltic, the Latvian hybrid carrier.

The commercial passenger aircraft leasing company said the 12-year lease commenced on 26 March 2019.

READ: Avation makes good on forecasts as it hits record profit in first half

Avation's executive chairman, Jeff Chatfield commented: "We have expanded our fleet with a third new aircraft delivery to airBaltic and we are proud to be associated with this growing and popular airline. Avation is pleased to be involved with the A220 programme as a lessor and we are optimistic about the prospects for this new-technology, fuel-efficient aircraft type."

airBaltic's chief executive, Martin Gauss, said: "airBaltic is making good progress with its fleet rationalization around the Airbus A220-300 and we are very pleased to be taking delivery of this next aircraft from Avation PLC, who has again been selected to supply on lease another four aircraft, this being the first of the four."

At the end of February, Avation - which also counts airlines like Thomas Cook and easyJet among its customers - reported a pre-tax profit for the six months ended 31 December of US$14.2mln, up 95% on a year ago, while revenues from its lease rentals jumped 40% to a record US$58.2mln.

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Wed, 27 Mar 2019 07:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217295/avation-acquires-and-leases-third-new-airbus-a220-300-aircraft-to-latvian-hybrid-carrier-airbaltic-217295.html
<![CDATA[RNS press release - AIRBUS A220-300 DELIVERY TO AIRBALTIC ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190327070002_14016819/ Wed, 27 Mar 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190327070002_14016819/ <![CDATA[RNS press release - ATR 72-600 AIRCRAFT DELIVERY ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190325070008_14013311/ Mon, 25 Mar 2019 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190325070008_14013311/ <![CDATA[RNS press release - ADMISSION OF NEW SHARES AND TOTAL VOTING RIGHTS ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190315071327_14003661/ Fri, 15 Mar 2019 07:13:27 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190315071327_14003661/ <![CDATA[RNS press release - ISSUE OF EQUITY AND DIRECTORS DEALING ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190311081417_13996921/ Mon, 11 Mar 2019 08:14:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190311081417_13996921/ <![CDATA[RNS press release - Transaction in Own Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190228071421_13984897/ Thu, 28 Feb 2019 07:14:21 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190228071421_13984897/ <![CDATA[Media files - Avation makes good on forecasts as it hits record profit in first half ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12312/avation-makes-good-on-forecasts-as-it-hits-record-profit-in-first-half-12312.html Thu, 21 Feb 2019 13:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/12312/avation-makes-good-on-forecasts-as-it-hits-record-profit-in-first-half-12312.html <![CDATA[News - Avation makes good on forecasts as it hits record profit in first half ]]> https://www.proactiveinvestors.co.uk/companies/news/215018/avation-makes-good-on-forecasts-as-it-hits-record-profit-in-first-half-215018.html Avation PLC (LON:AVAP) has made good on its forecasts as it reported record profits and revenues for the first half of its financial year.

The aircraft leasing firm, which counts airlines like Thomas Cook and easyJet among its customers, reported a pre-tax profit for the six months ended 31 December of US$14.2mln, up 95% on a year ago, while revenues from its lease rentals jumped 40% to a record US$58.2mln.

WATCH: Avation makes good on forecasts as it hits record profit in first half

Earnings per share (EPS) also essentially doubled to US$0.21 from US$10.9, with an interim dividend of US$0.02 declared in light of the “robust” performance.

Profits had been boosted by the sale of one of Avation’s Airbus A321-200 aircraft in October, for a price the group said was 10% above the planes book value.

The record-setting revenues were pretty much in line with the company’s forecasts, having predicted around US$58mln in a February update.

Fleet growth targeted for second half

In an outlook statement, Avation said “continued fleet growth” was its key goal for the second half of the year with seven aircraft expected for delivery on top of the “potential acquisition of further assets”.

READ: Avation first-half profits set to soar

Jeff Chatfield, the company’s executive chairman, added that the seven new aircraft were expected before 30 June this year and that going forward the group had “sufficient liquidity” to fund more additions to its fleet.

The company also said that the risks to its portfolio, which now numbers 41 aircraft including a Boeing 777 and an Airbus A330, had been “reduced through growth and diversification of customers”.

In early trading Thursday, Avation shares were down 0.2% at 286.5p.

--Adds share price--

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Thu, 21 Feb 2019 07:50:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215018/avation-makes-good-on-forecasts-as-it-hits-record-profit-in-first-half-215018.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190221070001_13976392/ Thu, 21 Feb 2019 07:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190221070001_13976392/ <![CDATA[RNS press release - FIRST HALF RESULTS AND INVESTOR UPDATE CALL ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190218075310_13972385/ Mon, 18 Feb 2019 07:53:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190218075310_13972385/ <![CDATA[News - Avation first-half profits set to soar ]]> https://www.proactiveinvestors.co.uk/companies/news/214329/avation-first-half-profits-set-to-soar-214329.html Avation PLC (LON:AVAP) expects pre-tax profits to have more than doubled when it reports its first-half results later this month.

The company, which buys planes and then leases them out to airlines such as Thomas Cook and Air France, said it “continues to perform well”.

READ: Avation reveals new long-term lease agreement

As such, revenue for the six months ended 31 December is likely to rise to around US$58.0mln (H1 18: US$52.4mln) when Avation publishes its interim results on 21 February.

Earnings per share and profit before taxation are both expected to double this time around. In the first half of the 2017/18 financial year, Avation generated earnings of 10.9 cents per share and a pre-tax profit of US$7.3mln.

In the six-month period, the £170mln company struck several leasing deals, including with Danish Air Transport and Latvian airline airBaltic.

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Mon, 11 Feb 2019 07:27:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214329/avation-first-half-profits-set-to-soar-214329.html
<![CDATA[RNS press release - TRADING UPDATE AND HALF-YEAR RESULTS ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190211070003_13964018/ Mon, 11 Feb 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190211070003_13964018/ <![CDATA[RNS press release - AIRLINE MARKETING EXECUTIVE APPOINTMENTS ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190122101214_13942641/ Tue, 22 Jan 2019 10:12:14 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190122101214_13942641/ <![CDATA[News - Avation reveals new long term aircraft lease agreement ]]> https://www.proactiveinvestors.co.uk/companies/news/212873/avation-reveals-new-long-term-aircraft-lease-agreement-212873.html Avation PLC (LON:AVAP) told investors that it has entered into a long-term lease agreement with a South-Asian airline for one new ATR 72-600 aircraft.

The commercial aircraft leasing firm said the new agreement covers an eight-year period and that it is on ‘market-standard terms and conditions’.

READ: Avation on course for record profits as growth drive continues

It expects the aircraft to be delivered at the end of next month.

Avation noted that it expects to publish its interim results, for the six months to December 31, next month on February 21.

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Fri, 18 Jan 2019 09:57:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212873/avation-reveals-new-long-term-aircraft-lease-agreement-212873.html
<![CDATA[RNS press release - PLACEMENT OF ATR-72 AIRCRAFT AND HALF-YEAR RESULTS ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190118093534_13939559/ Fri, 18 Jan 2019 09:35:34 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190118093534_13939559/ <![CDATA[News - Avation on course for record profits as growth drive continues ]]> https://www.proactiveinvestors.co.uk/companies/news/211907/avation-on-course-for-record-profits-as-growth-drive-continues-211907.html Avation PLC (LON:AVAP) has given an upbeat assessment of its prospects as first-half revenues and earnings are expected to grow strongly.

In an update provided at the aircraft leasing company’s annual meeting in November, investors were told lease income for the six months to the end of December will be in the order of US$58mln, up 39% year on year.

READ: Avation: Aircraft leasing company on course to post record profits

Profitability, meanwhile, is expected to hit record levels, boosted by a trading gain on the sale of a narrow-body aircraft.

New aircraft

The company is also targeting an expansion of its fleet having bought four new Airbus A220-330 planes in December which were then immediately leased to Latvian carrier airBaltic for 12 years.

READ: Avation leases four more Airbus A220-300 planes to airBaltic

This followed closely behind the delivery of two ATR 72-600 planes to Danish Air Transport, both of which are also on 12 year leases.

The ATR turboprop is a key model for Avation, having exercised an option in January to acquire eight more from the manufacturer at the start of 2019, with deliveries scheduled to take place between 2020 and 2022.

READ: Avation exercises options to acquire eight new ATR aircraft

Jeff Chatfield, the company’s executive chairman, added that the company had also maintained its purchase rights and price protection over a further 25 aircraft extending to December 2025.

“We believe that the market for the ATR 72-600 will continue to be strong as the aircraft is the most fuel-efficient aircraft in its class and dominates sales in its market segment,” he said.

CFO says next half year will be “best first half we’ve ever delivered”

Richard Wolanski, the company’s chief financial officer, told Proactive that the next first half is likely to be “the best first half in the history of the company”.

“We’ve gone from a company investing in US$20mln aircraft to being able to invest in US$100mln aircraft…The biggest and best airlines in the world use small, medium and large aircraft ... we now have the ability to deliver all that they require''.

Wolanski adds that the group started the year with revenues of around US$10mln a month, another record for the firm, while also making a material profit from the sale of an aircraft that will be recorded in the profits for the period.

“If a plane that represents half our balance sheet has been sold for a material profit…we want investors to understand that our balance sheet is undervalued”

“If we demonstrate liquidity of the assets and that they’re undervalued, then clearly the share price is significantly undervalued”.

The growth story hasn’t been lost on the market either, with the share price having risen around 11% over the last year.

Avation carries a market cap of around £166mln.

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Thu, 03 Jan 2019 10:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211907/avation-on-course-for-record-profits-as-growth-drive-continues-211907.html
<![CDATA[News - Avation exercises options to acquire eight new ATR aircraft ]]> https://www.proactiveinvestors.co.uk/companies/news/211896/avation-exercises-options-to-acquire-eight-new-atr-aircraft-211896.html Avation PLC (LON:AVAP) has exercised an option to acquire new aircraft from manufacturer ATR, with deliveries scheduled between 2020 and 2022.

The passenger aircraft leasing firm said the eight ATR 72-600 planes would extend its order book and firm delivery horizon, with business growth in regional turboprops now continuing out to 2022.

READ: Avation delivers second ATR 72-600 turboprop plane to Danish Air Transport

Jeff Chatfield, Executive Chairman of Avation, added that the company had also maintained its purchase rights and price protection over a further 25 aircraft extending to December 2025.

“We believe that the market for the ATR 72-600 will continue to be strong as the aircraft is the most fuel-efficient aircraft in its class and dominates sales in its market segment,” he said.

The new agreement follows the delivery of an ATR 72-600 by Avation to Danish Air Transport in November, with the company having leased two of the aircraft to DAT on 12-year leases.
In early trading Thursday, Avation shares were up 1.7% at 262p.

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Thu, 03 Jan 2019 09:06:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211896/avation-exercises-options-to-acquire-eight-new-atr-aircraft-211896.html
<![CDATA[RNS press release - OPTIONS EXERCISE FOR ATR AIRCRAFT ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190103083023_13922572/ Thu, 03 Jan 2019 08:30:23 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20190103083023_13922572/ <![CDATA[RNS press release - JET TRANSACTION COMPLETION ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181227090026_13916294/ Thu, 27 Dec 2018 09:00:26 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181227090026_13916294/ <![CDATA[News - Avation leases four more Airbus A220-300 planes to airBaltic ]]> https://www.proactiveinvestors.co.uk/companies/news/211374/avation-leases-four-more-airbus-a220-300-planes-to-airbaltic-211374.html Aircraft leasing company Avation PLC (LON:AVAP) has bought four new Airbus A220-300 planes which it has immediately leased out to Latvian carrier airBaltic.

The low-cost airline leased two A220-300s from Avation earlier in the year and these additional planes will be delivered directly from the final assembly line in the second quarter of 2019.

READ: Avation adds another A220-300 to its leased fleet

As with the other single-aisle aircraft, airBaltic has agreed to lease the new planes for 12 years.

“We believe the A220-300 is an excellent, highly fuel-efficient new technology aircraft,” said Avation executive chairman Jeff Chatfield.

“We are growing our fleet with four more A220-300 aircraft leased to airBaltic and we are very proud to be expanding our partnership with this growing and popular airline.”

Vitold Jakovlevs, the chief financial officer of airBaltic added: “Avation has again demonstrated their competitiveness which, combined with our good experience with the first two aircraft, is why we have selected them a second time.”

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Tue, 18 Dec 2018 07:27:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211374/avation-leases-four-more-airbus-a220-300-planes-to-airbaltic-211374.html
<![CDATA[RNS press release - FOUR ADDITIONAL AIRBUS A220-300 AIRCRAFT LEASED ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181218070002_13906984/ Tue, 18 Dec 2018 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181218070002_13906984/ <![CDATA[RNS press release - DIRECTOR'S DEALING ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181126122113_13880428/ Mon, 26 Nov 2018 12:21:13 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181126122113_13880428/ <![CDATA[News - Avation delivers second ATR 72-600 turboprop plane to Danish Air Transport ]]> https://www.proactiveinvestors.co.uk/companies/news/209837/avation-delivers-second-atr-72-600-turboprop-plane-to-danish-air-transport-209837.html Commercial passenger aircraft leasing company Avation PLC (LON:AVAP) has delivered a second brand new ATR 72-600 plane to Danish Air Transport (DAT).

The first of the twin-engine turboprops was delivered back in October. Both planes are on 12-year leases.

READ: Avation delivers first ATR turboprop to DAT

“We are pleased to continue delivering aircraft from our order book,” said executive chairman Jeff Chatfield.

“This new aircraft was delivered to DAT today at ATR's facility in Toulouse, France.”

Chatfield added: “Avation currently holds options for 25 additional new ATR 72-600 aircraft with delivery dates extending out to 2023. We note with interest the recent developments concerning the sale by Bombardier of the Q400 production line. Avation has no exposure to Q400 aircraft.”

Montreal-based Bombardier sold off the slow-selling Q400 line to Viking Air earlier this month for around US$250mln.

Avation shares edged 0.5% higher to 254.8p in late-morning trading on Friday.

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Fri, 23 Nov 2018 11:40:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209837/avation-delivers-second-atr-72-600-turboprop-plane-to-danish-air-transport-209837.html
<![CDATA[RNS press release - ATR DELIVERY TO DANISH AIR TRANSPORT ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181123110520_13878622/ Fri, 23 Nov 2018 11:05:20 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181123110520_13878622/ <![CDATA[RNS press release - ADMISSION OF NEW SHARES AND TOTAL VOTING RIGHTS ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181122093655_13876986/ Thu, 22 Nov 2018 09:36:55 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181122093655_13876986/ <![CDATA[RNS press release - RATINGS ACTIVITY ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181121123331_13875741/ Wed, 21 Nov 2018 12:33:31 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181121123331_13875741/ <![CDATA[RNS press release - Issue of Equity ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181116092911_13869970/ Fri, 16 Nov 2018 09:29:11 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181116092911_13869970/ <![CDATA[RNS press release - PRICING OF 6.5% SENIOR NOTES DUE 2021 ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181116072138_13869760/ Fri, 16 Nov 2018 07:21:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181116072138_13869760/ <![CDATA[RNS press release - RESULTS OF AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181115171123_13869109/ Thu, 15 Nov 2018 17:11:23 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181115171123_13869109/ <![CDATA[News - Avation: Aircraft leasing company on course to post record profits ]]> https://www.proactiveinvestors.co.uk/companies/news/209259/avation-aircraft-leasing-company-on-course-to-post-record-profits-209259.html Avation PLC (LON:AVAP) provided an upbeat assessment of prospects as it said first-half revenues and earnings were growing strongly.

In an update provided at the aircraft leasing company’s annual meeting, investors were told lease income for the six months to the end of December will be in the order of US$58mln, up 39% year on year.

READ: Avation sells Airbus A321-200 aircraft to Asian buyer in portfolio diversification push

Profitability, meanwhile, is expected to hit record levels, boosted by a trading gain on the sale of a narrow-body aircraft. 

Chairman Jeff Chatfield told the gathering in Singapore the group is looking to add to its fleet as well marketing new deliveries such as its popular ATR 72 turboprop aircraft.

"The company has continued the organic growth and renewal of is fleet,” he added.

“Current trading is positive with record revenues, materially above that of the comparable period last year.

“Given trading conditions, Avation is pleased to reward the owners of the company with a second interim dividend for the calendar year 2018."

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Thu, 15 Nov 2018 08:11:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209259/avation-aircraft-leasing-company-on-course-to-post-record-profits-209259.html
<![CDATA[RNS press release - DECLARATION OF INTERIM DIVIDEND ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181115070002_13867501/ Thu, 15 Nov 2018 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181115070002_13867501/ <![CDATA[RNS press release - AGM INTERIM MANAGEMENT STATEMENT TRADING UPDATE ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181115070001_13867488/ Thu, 15 Nov 2018 07:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181115070001_13867488/ <![CDATA[Media files - Avation's Wolanski suspects this will be best six months in company's history ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11043/avation-s-wolanski-suspects-this-will-be-best-six-months-in-company-s-history-11043.html Tue, 30 Oct 2018 11:31:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11043/avation-s-wolanski-suspects-this-will-be-best-six-months-in-company-s-history-11043.html <![CDATA[RNS press release - NOTICE OF AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181023070008_13838223/ Tue, 23 Oct 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181023070008_13838223/ <![CDATA[RNS press release - Issue of Equity ]]> https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181018100334_13833827/ Thu, 18 Oct 2018 10:03:34 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3819/LSE20181018100334_13833827/