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.
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.
"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.