Share Name Share Symbol Market Type Share ISIN Share Description
Avation LSE:AVAP London Ordinary Share GB00B196F554 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 190.50p 186.00p 195.00p 190.50p 190.50p 190.50p 11,937.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 55.9 13.6 25.8 7.0 112.26

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Date Time Title Posts
15/11/201610:32Avation - Fly to Let1,986.00
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01/10/201018:35Flying High?-

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Avation (AVAP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
11:03:40186.701,5322,860.24O
10:57:49191.007,80614,909.46O
09:51:04191.002,5994,964.09O
07/12/2016 16:06:58186.09288535.94O
07/12/2016 15:52:32186.097001,302.63O
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Avation (AVAP) Top Chat Posts

DateSubject
08/12/2016
08:20
Avation Daily Update: Avation is listed in the Industrial Transportation sector of the London Stock Exchange with ticker AVAP. The last closing price for Avation was 190.50p.
Avation has a 4 week average price of 193.05p and a 12 week average price of 171.45p.
The 1 year high share price is 209p while the 1 year low share price is currently 126.50p.
There are currently 58,928,336 shares in issue and the average daily traded volume is 10,439 shares. The market capitalisation of Avation is £112,258,480.08.
01/11/2016
11:14
carcosa: The Vietjet sale was in the works prior to the expression of interest for the ATR fleet. As I understand it there are two further Vietjet A321's due for delivery this year although, personally, I doubt Airbus will be able to deliver the second one in time (although root cause of that might be a VietJet's door. AVAP have indicated that a significant premium to book value for the ATR's would have to be obtained thereby providing a significant windfall for shareholders. I would be more interested to hear from them how quickly they can redeploy that cash and re-grow the fleet. I estimate P/NTAV is about 0.6. With the A321 sale I reckon all told an EPS of 16p, giving a P/E of 5.4. Of course if the ATR fleet is sold before year end then the EPS will be outrageous but all down to exceptionals. May also offer a sniff of interest in terms of a takeover if the company is sitting on a large cash pile, a bunch of aircraft with a market value well above book value. I do think if AVAP was listed in the US the share price would be significantly higher...
01/11/2016
10:56
dhlindy1: Today's RNS announcing a sale on delivery only adds fuel to the argument for a strong upside to the share price
26/10/2016
20:45
trytotakeiteasy: Notable share price reaction... not quite sure why a buyer would pay a large premium to book value for the fleet? Surely they could get the planes themselves new and then lease them out...in Avation's trading history sometimes it sells old planes above book and sometimes below.... so book seems a reasonably good marker of their value.. However, they are sold outside of lease usually and the may be worth more if leased to a good airline on a long-term basis....I don't think the maker of the ATR's has such a long order lead time....I think it is about 3 years...so I can't see why someone would pay a significant premium for Avation's fleet of ATR's... Unless it is a crazy buyer like the Chinese who seem to be buying everything at the moment...
26/10/2016
13:14
catsick: To sell half the fleet and the half with the highest yields will need a decent bid above book value I would think that would need to be at least 15 mio usd , with the gbp at 1.22 i see nav around 2.77 gbp per share this deal could push up to 3 pounds, they can then buy a bunch of shares back and a few more a321 should give a huge boost to the share price, of course no firm deal yet but shows there is value in the book and the shares still trade very cheap
21/10/2016
09:26
carcosa: Vietjet's latest A321-211SL, VN-A684 (MSN 7342) had its first factory flight last Wednesday. Deliveries are typically 7-10 days after first flight assuming no major snags. For some reason the share price often goes up when an aircraft is delivered...
09/9/2016
06:18
harrogate: Carcosa - how are you going to model the fact that the have the stated intention to trade midlife - old aircraft and there will be an inevitable reduction in lease revenue and an increase in trading profits which might as we have seen this year increase EPS but none of us values as highly and seems short term? Also while I agree that the board should focus on the business and not the share price there are some tings they need to do beyond the core leasing business to make sure that the share price does as well as I should - the call yesterday I thought was a shambles and the answers to much of the detailed questioning vague and inconsistent. If you listened do you know who the maon finance guy is at that the Company?
09/9/2016
05:39
carcosa: Well, you have to ask yourself why WH Ireland are so wrong. Stiffel were a lot better; but still wrong albeit pretty much bang on with leasing business. Broker notes are rarely reliable when it comes the numbers but their commentary is useful in picking up details. For the last two years my model has been reasonably accurate in terms of leasing profitability. As of today we know there are unlikely to be future ATR deliveries over the next year and we know how many more Airbus aircraft are contracted. Although I go into excessive detail on my own spreadsheet it does not take a great deal of work to use your own research to develop your own finance model. For all companies that I am a shareholder of I have my own targets but share price is never one of those targets. Companies should concentrate on the business and if they are meeting my various targets then I'm happy. Broker targets are almost be definition lies! As for share price, then I don't believe companies should pay too much attention to it. When they do it seems to me they invariably screw things up. That's for investors to play with. On any appropriate metric Avation is under valued in my opinion which is why I buy shares in them. But each to their own; if you have a system that works for you then stick with it. Meanwhile.. what's happened to A321 MSN 1921 ?
08/9/2016
06:24
ragehammer: AVAP results look pretty strong as expected, actual EPS of 34.2c compared to 32c in the recent trading update (must have found a few pennies down the back of the sofa). The trading profit seems to have come from selling two owned aircraft onto finance leases and they've also revalued the remaining fleet by $29m including impairing one aircraft by $0.9m. The revaluation doesn't go through profit or EPS but straight to reserves. Div up marginally. As ever the run rate of aircraft delivered late in the year will be fully shown in next year's numbers so less the impact of selling mid-life aircraft revenue and profit should continue to grow. With the revaluation and profit, book value per share has increased dramatically to $3.11 per share or £2.32 so even with the recent share price increase, the discount to NAV is around 30%.
31/7/2016
15:43
carcosa: jamesjoel: IMO I would not anticipate anything dramatic for quite a while. Partly due to the fact that aircraft leasing companies, especially small ones like AVAP are not well understood when listed in London, unlike their American listed counterparts. If AVAP gain no more orders other than those previously announced then the A320's contributions will make H1 2017 and full year 2017 a magnitude or order better in terms of assets and profits. Lease revenue of a A320 is almost 3 times that of a ATR72. It's just that this years' numbers are lacklustre in comparison to 2015 due to the lack of new A320 contributions and partly the cost of the GMTN notes. In the real world AVAP can be expected to expand their aircraft portfolio over and above current orders. The nice thing about aircraft leasing companies, especially AVAP, is that it's quite easy to construct your own spreadsheet and determine the likely revenues from each aircraft, asset valuation etc based on historical AVAP reports and general aircraft leasing reports to establish a baseline growth of revenue and NAV's. (The only 'iffy' bit is when AVAP sell an old aircraft and determining the likely value they got for it) Depending on how the company want to 'spin' this years results we should get a modest shareprice improvement (~5%) or, if they really stress the 'future', a reasonable price hike (~10%). Over the last 18 months I have been buying on the 'dips'. However, for me, if in 18 months from now the share price has not gone up by at least 50% I shall be disappointed, to say the least because of the explosive growth I expect.
28/4/2016
10:22
quepassa: Can't put my finger on it but those with memories long enough to remember one-time world-beating Guinness Peat Aviation plc will recall that all did not end happily. Whilst I am not suggesting in any way that there is anything necessarily negative about the Avation plc story and business, its market share price over the last year has not kept up with events. I have been wondering why. It was therefore both enlightening and somewhat interesting to read the absolutely fascinating " Short View" column in today's FT on the first page of the Companies & Markets section on p15 by esteemed reporter, Miles Johnson The article is about current dynamics in the aircraft leasing market and argues that, counter-intuitively, the low oil prices make older aircraft cheaper to run than new aircraft citing an example where Delta had sourced a used 777 for less than $8m in December compared with a factory fresh price of more than $250m. The article ends with the following salutary paragraph, followed by a graph headed "Emerging airline stocks underperform". The final paragraph is:- " All of this is cause for concern for holders of the leasing companies' debt and shares. While secured, the leasing debt is only as secure as the creditworthiness of the airlines that use the planes, and the second-hand value of those planes. Shares in emerging market airlines, the main buyers of new planes, have tanked over the past year. But leasing companies' debt is still trading at par value. One aspect of this relationship will have to budge soon". No doubt observers will stick their hands in the air and correctly say that Avation lease speciality aircraft which are in great demand and have good resale value with strong lease covenants. However, one cannot ignore the share price performance of certain airlines over the past year, nor the anomaly where older aircraft appear to be very cheap to run as a result of their low second-hand values. For me, one to watch from the sidelines pro-tem. ALL IMO. DYOR. QP
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