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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Avation Plc | AVAP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 2.00 | 1.85% | 110.00 | 15:01:19 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 108.00 | 108.00 | 110.50 | 110.00 | 108.00 |
| Industry Sector |
|---|
| INDUSTRIAL TRANSPORTATION |
| Top Posts |
|---|
Posted at 01/3/2024 16:12 by bdbd11 I listened in to the investor call. There seems to be a significance difference and improvement in confidence compared to the meeting last time out. Back then share buy backs were dismissed out of hand. This time they were back on the table as a possibility along with even the word dividend being mentioned. Paying down of debt is still the priority. With aircraft values (used and new) moving forward, the interest rate environment set to improve (possibly with AVAP's own rating improving as was hinted at) and the full fleet due to be in service shorty, we are looking good imo. The deep discount to nav they say is more than their piers. All in all it's looking good and I topped up during the meeting, lucky enough to get in under 1.06. |
Posted at 01/3/2024 14:07 by madmix I suspect some investors (ie. those selling this morning) were unaware of the broker forecasts here.WH Ireland's November '23 note forecast losses in 2024 and 2025 on both PBT and NAV (mainly due to lease transition costs - which primarily relate to maintenance costs prior to transition). Today's results are very much inline with that. To summarise, they say "While headline numbers may appear to be a step backwards today, we see real progress being made on an underlying basis in terms of growing lease revenue (underpinned by the delivery of two new ATR 72-600s in 2024 and 28 72-600 purchase rights) and deleveraging the balance sheet." |
Posted at 01/11/2023 11:33 by my retirement fund This is indeed an interest development:WARRANT GRANT AND DIRECTORS' DEALING Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company advises that 485,000 share warrants have been granted to directors and other employees of the Company as set out below. The grant of warrants is pursuant to the authorities and powers given by shareholders at the Company's last annual general meeting. The warrants have been granted subject to the Company's Remuneration Policy as long-term incentives. The warrants were granted by the board at an exercise price of 125.50 pence per share, and each warrant grant is on terms that one third of the warrants will vest at the end of each of the first three years from the date of grant but subject always to clawback under the terms of the Company's Remuneration Policy. The warrants are otherwise granted on customary terms for employee share remuneration. |
Posted at 29/9/2023 17:35 by extrader Oceanwood had 16.1m, per stockopedia.A quick search brought up this : hxxps://www.pionline Seems it's closing down, and may be in a hurry.... Oceanwood Capital Management's Deputy CIO Julian Garcia Woods is striking out on his own, and the hedge fund he co-managed with founder Christopher Gate is shutting down. Oceanwood's Opportunities Fund gained about 2% through July this year after losing 8% in 2022. Mr. Woods, who has been at Oceanwood since 2007, is taking a team from the firm and plans to launch CoreLane Capital Management early next year, according to Andrew Baker, head of business development at the London-based company. Oceanwood will return capital to investors while Mr. Gate, 59, is retiring, he said. Somebody got a bargain. With results out of the way, maybe even Jeff. ATB |
Posted at 29/9/2023 14:06 by sogoesit Indeed MRF... but one can see why the UK investor domain makes companies go elsewhere these days. Endemic. |
Posted at 08/8/2023 09:17 by pireric I've bought a position for similar reasons. Buoyant airline market, structural shift to leasing remains in place. Investors are perhaps also a little slow to remember how resilient the air travel market is and has been over the decades. The pandemic was clearly an isolated event.An over 60% discount to net book value when some key (admittedly larger) peers are on a 10% discount is excessive. Most peers have also fully recovered their pandemic share price losses, while AVAP is still down more than half. This is not a sustainable status quo in likelihood; this is a sector that historically had consolidated and I think the pressure for AVAP to be part of that increases the longer the valuation discount at these levels lingers. The demand environment is in robust shape which helps. Where there have been aircraft sales from AVAP they have broadly endorsed book value, I think. 2 ATRs in H2 last year basically at book value, a Boeing earlier this year may be a small impairment, but then an ATR recently at above book value There is an argument to say that - at these levels - alongside retiring debt, it makes sense to signal to the market with a share buyback. However, liquidity is maybe a big constraining factor there. Regardless, feels to me the upside downside equation at anywhere near these levels is skewed far more favourably to the upside. Time will tell. This was a pretty well regarded stock and business before COVID hit, but investors have largely forgotten about it and to be fair, the business shape has changed. Fair value in a corporate action could realistically be close to a £2 handle. Management ought to probably keep a keen eye on those strategic alternatives given the share price disconnect, and the large shareholding Jeff and Oceanwood have. There would be a decent level of cost takeout between G&A and using a lower cost of financing across the group (vs what a larger player could achieve) that could materially improve the embedded economics of any transaction. Eric |
Posted at 03/7/2023 09:31 by ga_dti Latest interview with Executive Chairman Jeff ChatfieldHaving spoke with numerous aviation investors at the Paris investor day, Jeff shares some of the feedback received, explains how the 30 ATR orders & options are spread, talks about strong demand and constrained supply, excitement for technologies and why 75% of Avation’s revenue is coming from Asia - |
Posted at 07/3/2023 12:44 by sogoesit Some selected paragraphs..."Nonetheless, it was a very positive outcome and one that shows that the business is clearly heading in the right direction. This has not been lost on investors; Avation’s share price has rallied 36 per cent since I rated the shares, at 102p, a recovery buy at the annual results (‘On a positive trajectory’, 29 September 2022). There should be more upside to come as the shares are still priced on half net asset value (NAV) of 282p even though management has been reducing investment risk, leasing or disposing of off-lease aircraft, and cutting net borrowings by 6 per cent to $747mn, or 62.9 per cent of total assets of $1.19bn. .... At this stage of the recovery, the best metric to value the group on is in relation to book value, which largely consists of the net equity held in aircraft, free cash on the balance sheet, the valuation of purchase rights and the net working capital position. On this basis, a 50 per cent share price discount is unwarranted. Buy." |
Posted at 06/3/2023 20:19 by pedigree_scum Another article in Investors Chronicle from ST - all very positive |
Posted at 29/9/2022 08:47 by melloteam FREE RESULTS ROUND UPJust to let shareholders and prospective investors know that S&U plc, Fintel plc, Brave Bison and Avation plc will be presenting at the Results Round Up Webinar at 2pm on Thursday 29th September 2022. The programme is as follows: 2.00 pm Amati’s David Stevenson discusses “The Small Cap Discount : Opportunity Knocks” with David Stredder 2.30 pm Company presentation by Fintel 3.00 pm Results Round-up from Graham Neary 3.30 pm Company presentation by Brave Bison 4.00 pm Company presentation by Avation 4.40 pm Introduction to Rex by Kit Atkinson of Peel Hunt 5.00 pm Results Round-up from Mark Simpson including the Good, the Bad and the Ugly 5.30 pm Company presentation by S&U The event is FREE and there will be over 500 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions. |
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