Avation PLC TRADING UPDATE AND RESULTS TIMETABLE (8571O)

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RNS Number : 8571O

Avation PLC

03 February 2023

Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

TRADING UPDATE AND RESULTS TIMETABLE

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company provides the following update for the half-year ended 31 December 2022.

NOTICE OF RESULTS

Avation expects to announce unaudited results for the half-year period ended 31 December 2022 on 3 March 2023.

FLEET METRICS

The Company's key fleet metrics are as follows:

 
                                 31 December 2022        30 June 2022 
 Number of aircraft                     37                    39 
                               --------------------  -------------------- 
 Number of airline customers            16                    17 
                               --------------------  -------------------- 
 Weighted average age                   6.1                   5.6 
                               --------------------  -------------------- 
 Weighted average remaining 
  lease term                            5.4                   5.7 
                               --------------------  -------------------- 
 Total contracted future 
  lease revenue receivable             $509m                 $568m 
                               --------------------  -------------------- 
 Aircraft order book                ATR 72-600            ATR 72-600 
                                      Two firm              Two firm 
                                 28 purchase rights    28 purchase rights 
                               --------------------  -------------------- 
 

TRADING UPDATE

Avation expects half year revenue to be approximately $46 million. The airline industry is continuing a recovery from the lows seen during the COVID-19 pandemic. Global domestic air travel, as reported by IATA, has recovered to around 77% of 2019 levels while international travel has recovered to around 73% of 2019 levels.

Avation is focussed on the execution of deliveries and sale agreements for its remaining off-lease aircraft in the second half to June 30, 2023.

-ENDS -

Enquiries:

   Avation PLC - Jeff Chatfield, Executive Chairman                                      [phone] 

Avation welcomes shareholder questions and comments and advises the email address for questions is: [e-mail] and the Company provides an investor Q & A during the conference call associated with release of results. The head office telephone number is [phone].

Notes to Editors: Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world. More information on Avation is available at www.avation.net .

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February 03, 2023 02:00 ET (07:00 GMT)