Avation PLC (LSE:AVAP) finance director Richard Wolanski joins Proactive London to talk about what the recent lease extension deal with easyJet explains about the company and the wider market for aircraft leasing.
He says “every aircraft is generating rent and that’s who we were pre-Covid”, though the shares sit at their biggest discount to net asset value in their history.
The four-year extension, he says, is evidence of how airlines are choosing to hold onto their older aircraft to help rebuild their capacity, in light of the resurgent demand from travellers and the removal of over 500 aircraft from the global fleet by Russia and the current slower rates of production by Airbus and Boeing.