Amedeo Air Four Plus Share Discussion Threads

[fram7] 19/10/2020 22:46

the preparation of the KIID is a long and expensive process....it should not be but it is sometimes. I suppose if H&L does not have it because it has not been supplied. I would be grateful if you will share what you find.

[mokhan2] 19/10/2020 22:31

Thanks fram7, I've emailed Nimrod Capital. Hopefully they'll do the necessary and make it possible. I wanted to put the money received from the buyback back in before the ex-dividend date.

[fram7] 19/10/2020 21:52

If they have not provided a KIID no broker can sell them. but they should provide it.

[mokhan2] 19/10/2020 20:36

Is anyone else able to buy the new stock with their broker? I'm only able to sell apparently because the company hasn't provided HL with the Key Information Document.

[fram7] 12/10/2020 18:43

not yet in H&L!!!

[irishmatt] 12/10/2020 18:03

Now arrived in II

[fram7] 12/10/2020 13:16

not yet but might be the broker that is slow to allocate this (I use H&L). hopefully will be there in the next 2 days

FM

[irishmatt] 12/10/2020 11:48

Anyone had their 46p arrive yet?

[fram7] 23/9/2020 14:38

well. These days an investment returning money can only be a good news and definitely is. But they are paying each share 46p which although much higher than todays price is way lower than pre covid prices around 75p. lets' hope they will manage to keep paying good dividends. I am delighted with 1.15p (12% a year!) and I am sure eventually the share price will go back to normal levels.

[irishmatt] 23/9/2020 13:48

Very interesting RNS, glad they are returning majority of the cash from the sale and this seems like a decent way of doing it

[adae] 24/7/2020 07:07

Seems like a positive:

"For the sake of clarity the Board confirms that it will not be declaring a dividend for payment in July but is hopeful that the payment of quarterly dividends will recommence in late October and quarterly thereafter and a further announcement in this regard, stating the applicable rate of dividend per share, may be expected mid-October or earlier."

[adae] 22/7/2020 16:20

Long leases point is a good one - things could look very different in say a year's time. A lot to work through first though.

[fram7] 29/6/2020 10:36

All airlines planes are worth about 0 now. Amedeo has long leases so problems, if any, will have to be evaluated then.
Who knows, may be the A380 will become popular again! It is still a modern, comfortable and safe plane with the lowest cost and pollution per passenger (when full).

Are you old enough to remember when they told us oil was going to finish soon and will never go under £100 a barrel? 2 weeks ago a financial consultant called me to and recommended me buying Wirecard shares.....

Lets keep it real!

[sf5] 28/6/2020 18:18

Nothing very new here, other than statements that A380 training has stopped with some carriers
I find it hard to imagine there will be any used airframe demand when leases expire and operators will have a huge choice for spares. The July annual financial reports will be read with interest!

[my retirement fund] 18/6/2020 00:40

2/3 of the world's aeroplanes in the Western world are still sat idle. So thats 2/3 of aircrew maintenance and support staff idle. All the inputs costs associated from fuel to interest on finance frozen too. Yet I am paying more to import goods by air from China because of a total lack of serviceable planes! THE WORLD HAS GONE MAD !!!

[fram7] 17/6/2020 22:55

Amedeo up again another 6%......

[fram7] 08/6/2020 15:13

Today Amedeo up 6.25%....going the right direction.....Still a massive bargain if things will end up well.

[adae] 08/6/2020 14:15

Sounded optimistic on future divis but just can't decide how big a hole the airline industry - and the plane leasing co's - are in. AA4 does at least have cash sitting around, albeit that the debt secured against the aircraft is massive.

Seemed an honest update.

[fram7] 08/6/2020 13:29

good stuff!

Clearly more time is needed but the situation does not look desperate.

Thai will not do anything till August but it is clear to me they will either need to agree payments or return the planes paying a very hefty fee (I believe around $70 mill per plane). they are owned by the Government so I would expect a cash injection.

Emirates is fully backed by the Government. As any airline they will restructure their fleet but I do not expect them to return younger planes.

If the air travel market is normalising I see limited scope for long term payment holidays from lease companies.

I see a very strong pick up in air travel demand so things are looking positive.

Good luck to us.

FM

[davebowler] 08/6/2020 11:58

Liberum;
Portfolio update highlights complexity of lessee situation

Mkt Cap £206m | Prem/(disc) -70.5% | Div yield n/a

Event

Amedeo Air Four Plus has released a portfolio update for the period to 1 June 2020. Much of the detail has been published previously, although there is a number of key updates:

Distributions were suspended in March following a request for support from Thai Airways (AA4 leases 4 A350s to Thai). In May AA4 reached an agreement in principal with Thai Airways for a partial deferral of lease payments for six months, with the deferred amounts due to be paid over the following three years. Thai Airways subsequently submitted to the Central Bankruptcy Court of Thailand its petition to file for rehabilitation citing a total debt amount of c.£9 billion. The court has accepted the petition and the first hearing will take place on 17 August 2020. This has resulted in an automatic stay coming into effect which restricts Thai Airways' right to pay and incur debts. Thai has not paid any lease payments to AA4 since 22 May 2020. The manager is in discussions with Thai Airways and the secured lenders of the four aircraft. It is likely the situation with regards to the payments will not not become clear until closer to the August hearing.

During April, Emirates also requested financial accommodation from the company (AA4 lease 6 A380s and 2 B777s to Emirates). Discussions with Emirates and the different lender groups are ongoing. Importantly, Emirates remains up to date with its lease payments and intends to do so until an agreement has been reached. The situation with the lenders is complex as some are participating in providing direct liquidity facilities to Emirates and would not contemplate additional assistance in structured transactions. Dubai's government has promised an injection of equity into the airline considering its strategic importance to the region.

The board will seek to re-assess whether distributions can be resumed (including the sale proceeds from the two Etihad aircraft) once it has greater clarity on its prospective financial position.

The board is seeking to reduce costs and has sought a proposal from Nimrod Capital for a substantial reduction in the fixed fees and aligning these to the market cap. The board states that the proposal from Nimrod Capital did not meet this objective and contained conditions that would restrict the board's ability to manager the company effectively.

Liberum view

The situation with both lessees is unlikely to be resolved soon and distributions remain some way off. The company holds a significant amount of cash on the balance sheet. At 30 September 2019, Amedeo Air Four Plus had £110.8m of cash on the balance sheet, reducing to £49.3m after stripping out security deposits and maintenance reserves. The continuation of the Emirates lease payments and the suspension of dividends should also have ensured that the cash position has not materially weakened since September. Since then the company has received net proceeds of £130m from the sale of two A380s to Etihad. The free cash of £179m is equivalent to 29p per share

[fram7] 03/6/2020 12:17

Today Amedeo going up!!! not much but better than nothing. is this the start of a new trend?

[fram7] 02/6/2020 17:09

BTW if you are trying to book a flight for you summer holidays you will be lucky to get something in August......everything already booked......against all news reports people have clearly no fear to flight....hopefully they will reinstate A380 soon because I would like to go on holiday on a plane!

[robizm] 29/5/2020 16:23

Not good news glad I took a small loss last week.