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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Amedeo Air Four Plus Limited | AA4 | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.10 | 0.17% | 60.30 | 08:00:14 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 60.30 | 60.00 | 60.30 | 60.30 | 60.20 |
| Industry Sector |
|---|
| INDUSTRIAL TRANSPORTATION |
| Top Posts |
|---|
Posted at 26/1/2025 20:46 by beeezzz "Investors’ ChronicleAmedeo Air Four Plus’s improving clarity over residual aircraft valuations and cash position should support one-off cash returns to shareholders. The aircraft-leasing fund has total assets of £1.12bn, falling net debt, cash set aside for shortfalls in the value of its A380 aircraft fleet, and significant maintenance reserves that generate interest income. Emirates is expected to buy Amedeo’s fleet when leases expire. A 2p quarterly dividend underpins a 13.7% yield for the next seven quarters. The share price discount to net asset value is likely to narrow. 58p" |
Posted at 23/1/2025 16:31 by sate_uk Here we go again 23 months later!Less than last time and still well below what the company placed the shares for, which in my opinion is again unfair to long term holders and original investors in the company. Obsolescence is built into the company and it continues towards it's eventual end. Sate |
Posted at 23/1/2025 13:11 by mattjos whatever .... They have cash surplus to rrequirements and are retunring to s/holders - presumably after canvassing largest investors as to how they would like it returning ie. this may also be influenced by tax liability preferences by largest holders.Anyway, whatever ... it remains cheap at these prices, has a decent yield & the main assets have a stronger demand/value in the market than was earlier feared. Should keep chugging upwards afaiac. |
Posted at 08/1/2025 16:31 by boystown Simon Thompson update today:Bank this 13.7% yield and potential cash windfall Cash is building up at this high yielding aircraft leasing fund making the deep share price discount highly attractive. - Board considering additional cash returns - 13.7 per cent dividend yield - 47 per cent discount to NAV at spot exchange rates Interim results from aircraft leasing fund Amedeo Air Four Plus (AA4: 58.2p) make for an interesting read. Not only do they highlight a valuation anomaly that is likely to continue to unwind, but also an improving cash position that should support one-off cash returns to shareholders. Specifically, Amedeo holds cash reserves against shortfalls in the residual value of its fleet of six A380 aircraft (leased to Emirates) against loans outstanding, and has substantial maintenance reserves from Thai Airways (relating to four A350-900s leased aircraft) which continue to accrue and provide useful income in the form of interest. Of course, these will diminish as they are drawn down by the airline for qualifying overhauls. However, given the burgeoning cash position, the board are conducting an exercise as to what the likely need for cash will be in the next few years. Once concluded the directors will consider the best way to return any amounts surplus to requirements to shareholders. That seems highly likely. Amedeo’s total assets of £1.12bn include £900mn for the aircraft valuation and cash balances of £144mn of which operational cash accounts for £24.5mn (8p a share), excluding maintenance reserves and reserves for debt repayments. Although borrowings of £722mn account for almost 90 per cent of Amedeo’s total liabilities of £812mn, net debt is falling rapidly and is forecast by brokerage Panmure Liberum to be slashed from £578mn (September 2024) to £437mn (March 2026) and £335mn (March 2027). Debt being slashed and improving clarity over residual aircraft valuations So, with borrowings being cut and operational cash strong, then there is potential for surplus cash to be returned to shareholders as the board’s confidence in realising the residual values of the aircraft grows. Bearing this in mind, it looks a dead cert that Emirates will purchase all six of Amedeo’s A380 aircraft when their leases expire given the problems that both Airbus and Boeing have in delivering new planes to the airline. Emirates recently set a benchmark by purchasing the A380 aircraft from Doric Nimrod Air Two (DNA2) for $40mn (£32.4mn) per plane when its leases expired. Amedeo’s A380s leases mature between September 2026 and April 2028, but could fly into the late 2030s. The fund also owns two Boeing 777-300ER aircraft that are leased to Emirates until the summer of 2028. They have a strong secondary market that supports a valuation of £40mn per plane, and potentially far more. It’s worth noting, too, that Amedeo holds more than $100mn (£81mn) of equity in the four A350-900s leased to Thai Airways which will enter an extended lease phase in 2029. At that point the new rent must be negotiated, and the aircraft will either be refinanced or disposed of. The bottom line is that investors can you rely on a 2p a share quarterly dividend that underpins a 13.7 per cent dividend yield for the next seven quarters when the first A380 lease expires, and can expect additional cash returns in the interim, too. So, having delivered a 58 per cent total return since I initiated coverage (Alpha Research: ‘In the ascent for a profitable recovery’, 19 May 2023), I believe the share price discount to spot net asset value of 109.75p is likely to narrow further. Buy. |
Posted at 01/1/2025 10:13 by grahamg8 Another approach is to assume the institutional investors know what they are doing. Yeah, I know that's a big ask. Which means the current share price is 'fair', balancing a high dividend return against the risk of a capital loss.We have a classic small difference (mcap) between two large numbers - the planes' residual values and the balloon payments on outstanding debt. Add to the mix a discount rate which can be chosen to tell a good or bad story pretty much at will and we have a mostly interesting discussion board. One bright spot I noticed recently, and I should have realised this a long time ago, is that Amedeo are the asset manager for DNA. With insider information we should be giving Amedeo due credit for any opinions they are prepared to share. |
Posted at 30/7/2024 07:10 by andyandyoj Tipped again by Investors Chronicle today - expecting a return of cash to shareholders this year |
Posted at 11/7/2024 21:53 by btgman Exactly Matt investors and the market have been real slow to cotton on to the 18% yield. Imagine if it continues for another 10 years it may well happen.AIMHO GLA BTG |
Posted at 04/7/2024 11:53 by rolo7 how do you buy aa4? I have been told its professional investors only. |
Posted at 07/6/2024 17:13 by robsy2 Just got this from HL. I find this sort of thing overbearing. especially from HL who are clueless on investment and reputationally completely compromised during the Woodford debacle. They have slipped behind on all levels . Why stay with them?Because it is too difficult to unravel it all I suppose . Or maybe they have to do this because of the FCA?Rant over. Nice weekend all Dealing restrictions have been applied to one of your holdings Dear Authorised fund managers are required to provide an annual fair price and value assessment for each of their investment funds. We need assurance that this assessment has been completed to ensure the investments we offer are achieving good outcomes and delivering value for investors. We collect this from third-party providers. The assessment for Amedeo Air Four Plus Ltd ORD NPV has not been made available to us from the third-party provider for the required period and so we’re removing the option to buy any more of the investment until it’s been received. What this means for you This means you can continue to hold it and sell at any time, but you’re currently unable to buy any more of the investment through us. If, however, you have an existing income reinvestment or regular saving instruction into the investment, it will currently continue. What happens next We’re continuing to actively monitor this and will look to reopen the investment for investors to buy, if appropriate, when this information is made available to us. We’ll provide an update on the purchase status of your investment as soon as we can, but can’t guarantee at this stage when this will be. If you have any questions about this, please contact us by replying to this message or call our helpdesk on 0117 900 9000. This isn’t personal advice. If you’re unsure if an investment is right for you, please seek advice. Meeting the needs of all our clients If your circumstances mean you’d like extra support, or you have specific accessibility needs, find out how we can help. You can also contact us to find out more. Yours sincerely HL If you can't buy it then you can't sell it either. |
Posted at 12/4/2024 20:54 by clive7878 AA4 price at 38.5p does appear to be illogically with an almost guaranteed 20.6% dividend for the next 2 years. The share price I would have thought can't keep on wiping out the dividend payment - its fallen 18% in the last 12 months.The MM appear to be very sensitive when a few investors sell pushing the price down, but not as before it goes ex-dividend when investors buy they were not pushing it up? They obviously accumulating stock and they may be holding too much stock, but then much of the stock is held by long term funds. |
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