ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

AVAP Avation Plc

114.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Avation Plc 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
  0.00 0.00% 114.00 112.00 116.00 114.00 114.00 114.00 31,815 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Equip Rental & Leasing, Nec 91.86M 12.19M 0.1720 6.63 80.78M
Avation Plc is listed in the Equip Rental & Leasing sector of the London Stock Exchange with ticker AVAP. The last closing price for Avation was 114p. Over the last year, Avation shares have traded in a share price range of 97.50p to 174.50p.

Avation currently has 70,863,124 shares in issue. The market capitalisation of Avation is £80.78 million. Avation has a price to earnings ratio (PE ratio) of 6.63.

Avation Share Discussion Threads

Showing 2726 to 2750 of 3775 messages
Chat Pages: Latest  115  114  113  112  111  110  109  108  107  106  105  104  Older
DateSubjectAuthorDiscuss
26/10/2016
14:07
Recent deals were at 1.2 & 1.6x net assets so you would think they would want similar. @ 40% of fleet may crystailze value that is currently on 0.6x net assets. So double it at least .
buffetteer
26/10/2016
13:58
I would imagine its a leasing co or financial company who like the yields, they are like high yield well secured bonds, the company is not for sale but all the assets are, in a world of negative/ low rates there should be a good number of interested parties,
catsick
26/10/2016
13:55
Not really sure what to make of this to be honest...not sure if it will go ahead and it seems quite bizzare to me...why would someone want to buy all of the group's turboprops which are under lease??? Why not just buy new turboprops??? If it is a leasing business then why doesn't it just buy the whole of Avation?? Why would Avation want to sell most of its fleet??

Not sure I understand this and it seems unlikely to come to anything... any other views??

trytotakeiteasy
26/10/2016
13:14
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
catsick
26/10/2016
09:41
Good news is hard to find today - so this is welcome.

No decision on a sale has been made. However, the directors are willing to consider a proposal aligned with attractive shareholder returns for this portfolio, a portfolio which currently generates strong cash yields for the Company."

The Company will make further announcements in due course as and when there are any relevant developments

broadwood
26/10/2016
09:33
So a surprise RNS: in which somone (Avalon?) wants to aquire the ATR fleet. Given that within the industry the valuation of these aircraft would be well known (disregarding what is stated in the AVAP annual report) then the question really remains as to what premium over book value would be acceptable.

I reckon at least $93m should be achievable:

Current Estimated NBV: $371,295,346
L/BV 76%
Outstanding Loan $282,184,463
Cash $89,110,883
Premium to NBV 5%
Net Cash $93,566,427

carcosa
24/10/2016
10:48
The share placing was supposed to be double that. Because it is in sterling.Still need to raise dollar funds.
russman
21/10/2016
09:26
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...
carcosa
19/10/2016
06:58
Contracted fleet revenue: US$ 752.5 million
Remaining lease term (weighted average) 7.4 years
Calculated Annual revenue 752.5/7.4 = $101.6m as of 30th September 2016 ??

carcosa
14/10/2016
09:16
Mmmm no RNS re the new ordinary shares as to who the beneficial owners are...

Meanwhile:
The US export licenses are being restricted see:

hxxp://www.presstv.ir/Detail/2016/10/05/487715/Iran-aviation-Boeing-Airbus-deal-delivery

and

hxxp://www.lexology.com/library/detail.aspx?g=a36c4b7a-9f32-4c01-8545-fd599e269ecc

So as things stand at the moment it would appear that only ATR have are working on overcoming the financing issue (cannot use US$) and Iran are being pushed into a corner and are now looking at smaller aircraft...

Have had it confirmed by AVAP that the statements regarding future ATR deliveries in the Annual Report (p87) ".. commitments to purchase nine ATR 72-600 aircraft... Two of these aircraft are due to be delivered before the end of the calendar year 2016...Management intends to arrange leases for or agree sales of these aircraft prior to delivery." remain true so we can see a potential (small) profit from those deals before end of the year if sold, or an addition to the forecasted lease revenue.

Also had it confirmed that a further increase to the guided lease revenue can be expected from aircraft that are expected to have their leases renewed, I suspect those are one or two of the F100's so don't expect the increase to be material.

carcosa
12/10/2016
06:27
CS: I would not come to that inferred conclusion until end of play tomorrow.
carcosa
12/10/2016
06:17
No holding rns , must have been placed with several holders ?
catsick
07/10/2016
03:02
Will be interesting to see who shows up as the buyer if it is a single buyer, also if it was driven by the need for cash or to get the investor on board. In general I dont like to see a placement done below nav , however if the cash on the balance sheet is all invested and this is to grow the fleet further then I think its a good thing..
catsick
06/10/2016
12:08
The shares are for a new institutional shareholder who would otherwise have had no practical access to the shares. The fact they were able to pony up at practically a zero discount does not disenfranchise current share holders to any major degree. To grow the company, some equity release has to occur and keeps the cost of debt manageable.

Others may take a differing view and that is, at the end of the day, what makes a market. For me, today's RNS is a positive for the medium term growth of the company.

If you want to put a negative spin on the announcement then I would claim they have not been able to gain interest in the two Airbus aircraft up for sale which they were banking on to help fund the Vietjet aircraft... except I don't believe that!

A further RNS will be released on the 11th October stating who the institutional buyer is.

meanwhile has anyone read the Annual Report. Quite a lot of interesting data to be had. Seems as though the Vietjet aircraft are on a reduced lease rate (by about 100bps) and the acquisition costs are substantially below market due to VietJet's very large order quantity for Airbus aircraft.

Can someone clarify what the ATR sales are going to be this year? Am sure in the video they said no sales until 2017 onwards but the AR (p87) states ".. commitments to purchase nine ATR 72-600 aircraft... Two of these aircraft are due to be delivered before the end of the calendar year 2016...Management intends to arrange leases for or agree sales of these aircraft prior to delivery."

carcosa
06/10/2016
11:15
ragehammer - technically you are right... but in reality nearly all companies would state share placing in the RNS...put this together with weak communication from Avation in other areas and it is frustrating.... but why do a placing when you don't ever say why....that is just ridiculous and treating shareholders with contempt in my view... diluting people without saying for what purpose...given the cashflow why does the group need a placing?
trytotakeiteasy
06/10/2016
08:50
The announcement is neither misleading or inaccurate. It's an issue of equity so what it says on the tin.

Also it was done at the bid price so effectively no dilution for existing holders. It increases cash on the balance sheet by £4.6m to help fund the growth which has been well flagged.

It's astonishing that you try to compare it to QPP.

ragehammer
06/10/2016
08:04
harrogate - I disagree as they could have made the RNS announcement accurate. That doesn't cost anything. Generally it is dodgy companies such as Quindell that try to mislead investors. Issue of equity is usually for share options etc. It is not for a share placing.

On the basis of this unnecessarily misleading announcement alone I am consigning Avation to the dog house.

trytotakeiteasy
06/10/2016
07:44
I think you need to relax. If they had done it at massive discount without allowing us to have a go at it then fair enough but they didn't. If they didn't do this and used all debt some people would complain about the increased leverage. They have always said that they will use a mix of equity and debt to fund the growth. They have 3 airbus to buy for Vietjet in the short term - they are expensive and they need to fund them. If you want AVAP to grow without any equity raises I would sell now. It could also be a sign that they have some institutional demand which would be a positive too.
harrogate
06/10/2016
07:24
Don't like this at all. Announcement says issue of equity when it should say placing. Just gives the impression that Avation isn't straight up with investors.

Agree with catsick: why do they need the money? They don't say here. With the depreciation charge non-cash they should have great cashflow.

This is a shady way of doing things in my view and makes me much less keen on Avation.

Not a nice way to treat shareholders. Just dilute everything by 5% without saying why. Jeff is not my kind of CEO.

trytotakeiteasy
06/10/2016
07:04
Bit odd why place these shares ? Was there a need for the money , they had plenty of cash last balance sheet date
catsick
26/9/2016
11:28
Say AVAP make 10 sale & leasebacks with Vietjet.Their Chairman provides the debt finance.You will be in Vietjets Chairmans pocket.
russman
22/9/2016
04:35
"Airbus on Wednesday became the first airplane manufacturer to get U.S. government permission to sell aircraft to Iran..."



I would have anticipated the ATR deal would be less technologically problematical for the US govt. Still, it's lurching along the right path...

carcosa
21/9/2016
07:22
Thanks for the info - very useful after what was said on the ATR oversupply on the call.
harrogate
20/9/2016
14:46
Very interesting indeed on the iran situation, I cant see how this is not an excellent benefit even if not a direct transaction ..
catsick
20/9/2016
08:32
hxxp://www.ch-aviation.com/portal/news/49372-iran-set-to-secure-us-export-licenses-this-month

"...Tehran has been informed that the United States will shortly issue it with the relevant export licenses needed to proceed with its aircraft purchase orders with Airbus Industrie, Avions de Transport Régional, and Boeing..."

Iran Air have an agreement (MoU??) with ATR for 20+20 ATR72-600's; delivery from Nov. 2016 to 2018. As far as I am aware Iran is not yet a signatory to the Cape Town Convention and Avation are not directly involved in financing these aircraft.I think it highly unlikely the proposed delivery schedules are attainable but ATR have been making provision for the Iran order and trying to meet the customer needs.

The Iran order is beneficial for Avation as it simply adds to demand for the aircraft, makes future delivery options more valuable and continues to build brand reputation. Avation would consider the release of delivery positions if there was a suitable financial benefit. Given what was said in the recent prelims webcast the Iranian order would be a positive for Avation.

carcosa
Chat Pages: Latest  115  114  113  112  111  110  109  108  107  106  105  104  Older

Your Recent History

Delayed Upgrade Clock