logo-loader

Avation PLC flying high as it makes strong start to the year

Published: 07:12 08 Apr 2016 BST

avation
The firm's customers include firms such as Virgin Australia (pictured), Flybe and Thomas Cook Airlines.

The leasing firm Avation PLC (LON:AVAP) has increased its fleet size to 37 aircraft in 2016 from 33 at the end of last year, which has brought the average age down to 4.5 years from 5.2.

The remaining lease term has grown by 12 months in the first quarter to 6.7 years and the Avation has 100% fleet utilisation.

“The company has delivered a series of brand new aircraft to airlines during 2016; these aircraft have added scale and also improved the age and lease term metrics,” said chairman Jeff Chatfield.

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.

Its customers include firms such as Virgin Australia, Flybe and Thomas Cook Airlines.

Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

59 minutes ago