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Share Name Share Symbol Market Type Share ISIN Share Description
Amedeo Air Four Plus Limited LSE:AA4 London Ordinary Share GG00BMZQ5R81 RED ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  -0.25 -0.76% 32.75 26,339 15:24:50
Bid Price Offer Price High Price Low Price Open Price
32.00 33.50 33.00 32.50 33.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 190.03 24.68 6.08 5.4 114
Last Trade Time Trade Type Trade Size Trade Price Currency
16:19:01 O 22,400 33.00 GBX

Amedeo Air Four Plus (AA4) Latest News (3)

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Date Time Title Posts
17/4/202011:37Distributions 6

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Amedeo Air Four Plus (AA4) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2022-10-06 16:19:0133.0022,4007,392.00O
2022-10-06 07:50:0833.253,9391,309.72O
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Amedeo Air Four Plus (AA4) Top Chat Posts

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Posted at 06/10/2022 09:20 by Amedeo Air Four Plus Daily Update
Amedeo Air Four Plus Limited is listed in the Industrial Transportation sector of the London Stock Exchange with ticker AA4. The last closing price for Amedeo Air Four Plus was 33p.
Amedeo Air Four Plus Limited has a 4 week average price of 32.50p and a 12 week average price of 30.25p.
The 1 year high share price is 34p while the 1 year low share price is currently 23p.
There are currently 347,313,483 shares in issue and the average daily traded volume is 58,184 shares. The market capitalisation of Amedeo Air Four Plus Limited is £113,745,165.68.
Posted at 29/7/2022 10:26 by davebowler
Liberum; Amedeo Air Four Plus Improving outlook Mkt Cap £113m | Share price 32.5p | Prem/(disc) -64.0% | Div yield 15.4% Event AA4's full year results have demonstrated a significant improvement in its position. The agreement of the lease amendment with Thai Airways was pivotal in enabling a £30m capital return and the resumption of quarterly distributions. Lease income from Emirates underpins the current 5p distribution. The board has stated that it expects to be able to maintain the distribution at this level for the foreseeable future. Estimated residual values reduced by 16% in the year. The portfolio comprised 12 aircraft at 31 March 2022 - six A380s (leased to Emirates), two B777s (leased to Emirates) and four A350s (leased to Thai Airways). The majority of the impairment related to the A380 and B777 aircraft. The situation with Thai Airways has improved steadily since the restructuring completed in December 2021. The airline is making power by the hour (PBH) payments in 2022 before switching to a fixed payment from January 2023. During Q1 2022, flight hours for the four A350 aircraft were equivalent to 60% of pre-pandemic hours. The PBH payments have been sufficient to cover the quarterly interest and expense. AA4 has also provided additional disclosure on the lease terms. The fixed lease rent from 1 January 2023 is 45% below the previously agreed rent. Thai Airways' rehabilitation plan provides for $6.7m of pre-petition unpaid rent to be payable to AA4 in instalments starting in 2024. This will be used to repay debt. The lease has also been extended by six years, with future rents to be determined by market rates. Thai Airways has announced plans to exit bankruptcy in 2024 and is seeking to strengthen its balance sheet with new equity and debt-for-equity swaps. AA4 has reiterated its view that it does not expect to receive any income from the Thai aircraft after expenses and debt service costs, but there is scope for the recovery of equity value. Liberum view AA4's 15% dividend yield is covered by income from Emirates. We believe there is potential for an increase in distributions over time as we estimate recurring earnings of £26m (vs. £17m of annualised distributions). We believe AA4 is gradually building up cash reserves within the A380 SPVs, to ensure there is enough capital to meet obligations on the junior debt. In this regard, the recent sale by Doric Nimrod Air One of its A380 to Emirates for $30m was encouraging. In relation to AA4's A380 aircraft, the lease return compensation and redelivery costs are much lower than $30m. The first of AA4's A380 lease expires in 2026 and it is still unclear what will happen with the aircraft at the end of the lease. Emirates is experiencing capacity issues, in part due to problems with the delivery of Boeing's 777X programme. The first delivery of 777X aircraft is expected to occur in 2025. The success or otherwise of the 777X programme will play a determining role in the residual value of AA4’s A380s. Even on relatively conservative assumptions (no equity value for A380 and $12.5m for A350), we estimate an IRR of 14% from the current share price.
Posted at 19/7/2022 09:56 by gary1966
Two trades today for 500 and 750k, both at 34p. Sizeable for AA4 and so I am wondering what is going on.
Posted at 18/7/2022 19:17 by bedbel
From WINV annual report today: The Company's portfolio has remained quite fully invested during the reporting period. This includes a previously undisclosed holding of some 3.7% of Net Assets in Amedeo Air Four Plus Limited ('AA4'). AA4 is a Guernsey company, whose shares are listed on the Specialist Fund Segment of the London Stock Exchange's Main Market. AA4 has a market capitalisation of £109.4 million and owns via its subsidiaries an aircraft fleet of six A380s and two B777-300ERs leased to Emirates Airlines ('Emirates') and four A350-900s leased to Thai Airways ('Thai Air'). As at 30 September 2021, the AA4 group held cash, net of provisions for maintenance, of slightly less than £84 million, which has subsequently been reduced by a £30 million pro rata capital redemption. In addition, unencumbered gross lease payments contracted to be paid to AA4 by Emirates as at 31 March 2022 were some £194 million. Once Thai Air trading has normalised, there is scope to return by way of capital return the £15 million held by AA4 as a capital buffer, and to increase very substantially the annual dividend of five pence per share, which is presently constrained by the AA4 board's prudent approach to Thai Air's current trading.
Posted at 18/7/2022 16:31 by pejaten
Main reason for rise is that Emirates have agreed to buy DNA1 sole aircraft for £25m at the end of the lease in Dec. Gives some confidence in the residual values.I still like AA4 best due to the length of time remaining and the prospect of increase in dividend next year at the latest when Thai resume fixed payment.
Posted at 18/7/2022 09:34 by gary1966
Nice to see a bit of interest here and the price moving up. Good news about the A380’s as this will only underpin the NAV which the shares trade at a substantial discount to. Another dividend to be received shortly and at 5ppa underscores the investment case further. GLA
Posted at 11/4/2022 08:07 by my retirement fund
The Board is pleased to announce an interim dividend of 1.25p per ordinary share. The shares will be marked ex-dividend on 21 April 2022 and the dividend will be paid on or around 29 April 2022 to shareholders on the register as at the close of business on 22 April 2022
Posted at 05/1/2022 13:21 by fram7
Hi, am I right saying that that Amedeo expected dividend is around 16% per year? 1.25 p every quarter, 5p a year at 31 p per share? I believe this is a very appealing dividend when compared to the limited alternatives in the market? Regards, F
Posted at 16/12/2021 10:06 by davebowler
Liberum; Lease agreement and debt restructure agreed on Thai Airways aircraft Mkt Cap £119m | Share price 27.5p | Prem/(disc) -61.7% | Div yield n/a Event Amedeo Air Four Plus has finalised lease restructurings with Thai Airways. Under the restructured leases, Thai Airways will pay rent on a power by the hour basis until December 2022. From January 2023, the leases will switch to fixed monthly payments (amount not disclosed). Under the terms of the restructured debt facilities, any surplus rent in excess of debt service and agreed cost contributions to AA4 will be used for principal amortisation. Three of the four aircraft leased to Thai Airways have been operated in commercial service. The final aircraft is due to re-enter commercial service in the coming days. Some rent has been received under the power by the hour arrangement. Liberum view There is no indication on the level of the fixed monthly payments compared to the prior lease. We believe the reduction in the monthly rental is likely to be approximately 40%. Data from Ishka indicates that market lease rates for A350s have fallen by approximately 30% since January 2020. The lease restructuring had been expected given the recent decision to return £30m to shareholders. The board had previously created a contingency reserve to cover 18 months interest and the cost of repossession, storage and remarketing of the A350 aircraft leased to Thai, in the event they were returned by the airline. The focus now turns to what the reinstated dividend payout will be and an announcement is expected shortly. We previously estimated the dividend would be slightly less than the most recent dividend of 1.15p (based on the number of shares prior to the capital distribution), as we expect the board will seek to ensure that the dividend is reinstated at a sustainable level. A dividend of 1.25p (equivalent to 1p per share on the number of share prior to the distribution) would equate to an annualised dividend yield of 18.2%. Real Estate
Posted at 01/12/2021 09:19 by davebowler
Liberum; £30m capital return and intention to reinstate dividend Mkt Cap £100m | Share price 23.0p | Prem/(disc) -68.0% | Div yield n/a Event Amedeo Air Four Plus will return £30m to shareholders by way of a compulsory redemption and also intends to reinstate a regular quarterly dividend (first payment to be made in Q1 2022). The board has also reported that lease restructurings with Thai Airways are proceeding satisfactorily and will issue an update when the restructurings are finalised. The £30m compulsory redemption is equivalent to 6.9p per share. 86.8m shares will be redeemed at a price of 34.55p per share. The proceeds represents the remaining undistributed capital that was received from the sale of the Etihad aircraft in February 2020 (£98.5m was returned in September 2020). The capital had been retained in order to provide additional flexibility. Liberum view The capital return and dividend reinstatement is an excellent result for shareholders. The restructuring with Thai Airways and the lenders hasn't completed yet, but we don't believe the capital would have been returned unless the board was virtually certain that a deal would be concluded. The board had previously created a contingency reserve to cover 18 months interest and the cost of repossession, storage and remarketing of the A350 aircraft leased to Thai, in the event they were returned by the airline. The key question now will be the quantum of the quarterly dividend. That will partly depend on agreements that are reached with Thai Airways on lease payments and the restructuring of the debt service schedule with the lenders. The expectation is that the lease will be amended to a power by the hour arrangement for a period of time before moving to a fixed rate lease. There is unlikely to be any excess income coming back to TopCo after debt service payments from the SPVs owning Thai assets. The dividend is likely to be lower than the most recent ad-hoc dividend payment of 1.15p (Q1 2021) as we expect the board will seek to ensure that the dividend is reinstated at a sustainable level.
Posted at 07/2/2019 12:09 by joan of arc
Why would Amedeo still have an outstanding order for 20 A380s when demand is falling away so rapidly. If I recall correctly Emirates reduced their order recently. Surely this cannot be good for the long term prospects for the AA4 share price
Amedeo Air Four Plus share price data is direct from the London Stock Exchange
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