Avation PLC (LSE:AVAP) finance director Richard Wolanski joined Proactive's Stephen Gunnion with details of the specialist commercial passenger aircraft leasing company's inter results for the six months ended 31 December 2021.
Wolanski telling Proactive that the results reflect the emergence from the severe disruption created by the coronavirus (COVID-19) pandemic.
Revenue exceeded expectations and Avation's strategy to conserve liquidity has succeeded with net indebtedness being reduced as cash collection rates and unrestricted cash balances improved. He said the trend is expected to continue throughout the second half of the financial year.