We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| 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 | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -0.50 | -0.32% | 156.00 | 28,851 | 09:29:43 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 154.50 | 156.00 | 156.00 | 155.00 | 156.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Equip Rental & Leasing, Nec | USD 92.4M | USD 19.74M | USD 0.2964 | 5.23 | 104.21M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 09:31:18 | O | 1,283 | 155.84 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 12/6/2025 | 11:35 | ALNC |  Avation announces "profitable" sale of new ATR aircraft |
| 12/6/2025 | 09:33 | UK RNS | Avation PLC RESPONSE TO ANALYST QUESTION |
| 12/6/2025 | 07:00 | UK RNS | Avation PLC SALE OF ATR AIRCRAFT FROM ORDERBOOK |
| 11/6/2025 | 22:13 | ALNC | TRADING UPDATES: Ten Lifestyle celebrates new Japan contract win |
| 11/6/2025 | 12:53 | UK RNS | Avation PLC SALE OF BOEING 777-300ER AIRCRAFT |
| 05/6/2025 | 07:00 | UK RNS | Avation PLC Transaction in Own Shares |
| 28/5/2025 | 07:53 | UK RNS | Avation PLC Transaction in Own Shares |
| 12/5/2025 | 07:00 | UK RNS | Avation PLC Transaction in Own Shares |
| 09/5/2025 | 11:37 | UK RNS | Avation PLC NOTES REPURCHASE POLICY |
| 08/5/2025 | 08:28 | UK RNS | Avation PLC Transaction in Own Shares |
Avation (AVAP) Share Charts1 Year Avation Chart |
|
1 Month Avation Chart |
Intraday Avation Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 17/6/2025 | 08:10 | Avation - Fly to Let | 3,169 |
| 25/1/2013 | 12:03 | Avation traded on Plus | 753 |
| 01/10/2010 | 19:35 | Flying High? | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 08:31:20 | 155.84 | 1,283 | 1,999.43 | O |
| 08:29:43 | 156.00 | 594 | 926.64 | AT |
| 08:29:43 | 156.00 | 2,794 | 4,358.64 | AT |
| 08:29:43 | 156.00 | 666 | 1,038.96 | AT |
| 08:29:39 | 155.94 | 5,101 | 7,954.50 | O |
| Top Posts |
|---|
Posted at 20/6/2025 09:20 by Avation Daily Update Avation Plc is listed in the Equip Rental & Leasing, Nec sector of the London Stock Exchange with ticker AVAP. The last closing price for Avation was 156.50p.Avation currently has 66,588,757 shares in issue. The market capitalisation of Avation is £103,212,573. Avation has a price to earnings ratio (PE ratio) of 5.23. This morning AVAP shares opened at 156p |
Posted at 12/6/2025 07:48 by harrogate They really are cracking on with the plan to deleverage and get the refinance done on on better terms later this year. I think that we will have to wait to see what that looks like before we get a decent uplift in the share price. As has been said enables us to buy at this price almost at our leisure. |
Posted at 11/6/2025 14:56 by bdbd11 So at next reporting we should see a material increase in nav then.IMO they should use a chunk of this cash to buy the 10m or so shares from our Activist holder at £1.50 a share - or if that's not agreeable, but back aggressively in the market while the share price remains around this level. As they say themselves, this activity is highly accretive. |
Posted at 11/6/2025 13:32 by pireric Very welcome news to be reading lunch over. Need to crack into the details when I get time later, but looks a smart bit of business, and again helps crystallise value at levels that are increasing the NAVLook back at the May presentation deck - AVAP's aircraft is about 7 and a half years old. AVAP were saying the market for 10-year -300ER configs had increased in book value by ~$15m in 2025 alone (over 2024 levels). They had the market value of a 10-year config down for around $56m eyeballing it, from that presentation deck. See slide 12 The market's arguments for this to continue to trade at a big NAV discount are eroding away month by month over the last year or so, in my view. Brokers probably will come out with their take by tomorrow, which are probably going to be quite positive. Think this in its own right, but also continued connotations about the company's capital allocation should punch the share price through 150p over the coming sessions. Eric |
Posted at 24/4/2025 12:16 by bdbd11 My point was not that they wait for any future share price fall, but rather, they missed a trick to buy back when the share price was circa £1 in 2023. They had the cash to make significant buy backs, but put it all in to buying back debt, rather than putting a portion of that in to equity. I (amongst others no doubt) did raise this at the time. That is of course history.I'll take this opportunity to thank you Carcosa for all your work on avap, I've been a holder for about 20 years since the ofex days and have done well overall. It's currently my joint largest holding. |
Posted at 24/4/2025 11:56 by carcosa I think there are about 8 million outstanding warrants represent a notable proportion of Avation PLC's share capital (approximately 11.39%).A significant number of warrants were issued to bondholders in connection with a restructuring of the Company’s bonds. Specifically, the bondholders received 6,000,000 warrants exercisable to 31 October 2026. These warrants alone constitute a large portion of the total outstanding; about half. The exercise price for the bond warrants is 114.5p AVAP has sterilised over half of the original warrants issued with loan notes through share buy-backs. The vast majority of the buybacks last December represented 10.45% of the share capital at 150p/share which meant effectively buying 285p/share of assets for 150p/share. Waiting for the share price to fall below the strike price of the warrants is a bit optimistic as that would require the share price to be between 102p to 125.5p. I think that would be possible, but somewhat unlikely. Of course the whole debate about any UK management renumeration is an evocative one; a subject that deserves extensive discussion by itself. 'But where do you see as a company right now, AVAPs fair value range is/should be?' Doesn't really matter what I think; I have no influence on the share price. In terms of value I can - as can everyone else - have an opinion. My opinion is that it should reasonably trade around 80-90 percent of NAV as a minimum. However the market disagrees with me. |
Posted at 24/4/2025 07:32 by carcosa Let me explain that my interest in Avation is in the business. It's an environment that I am familiar with and am only a few miles away from their Singaporean head office. It's often said that you should never fall in love with a share but I know that I do, although I limit that to Avation. So although I might write a lot about it, I think there are other shares that are likely to be more profitable. Avation is a long term multi-year play. Having said that:In answer to your first point: Decades ago if a company bought back shares they had to cancel them in order to effectively remove them from the register so that they had no voting rights, no dividends and, effectively, no value. When a company holds them in treasury then the the shares remain part of the issued share capital but are not considered "in circulation" for voting or dividend purposes. So for us holders in increases things like EPS because the number of shares in the issued share capital decreases by the number held in trasury. So why keep the in Treasury and not cancel? Well in essence its a lot more of a hassle to issue new shares (requires share holder approval, and a lot more paperwork etc) than re-issuing treasury shares. Avation will 'never' (dangerous words there!) issue new shares for normal business purposes. The reason is that the market cap is ~100m and to issue new shares to procure an aircraft would require, say doubling the share count to buy at most, with leverage, two new A320's. The returns generated would be pitiful. The only circumstance I could imagine a share placing is for corporate use e.g. a takeover of another leasing company which shareholders obviously get to vote on. Avation management are very astute and essentially there is limited upside in cancelling the shares. However you are right that there are share based payments (most of which are reasonable) and share 'rewards' for employees so I can see some or all of those shares coming back into the active register. Nevertheless management have said they would consider cancelling them at some point; As regards your second point. Management live and breathe aerospace. They grew up with aircraft. They are dyed in the wool experienced personnel. They have lived in Singapore for decades and subject to health reasons I don't see them ever retiring! They have a stated ten year plan to expand the fleet using their purchase rights to increase the ATR fleet by two aircraft a year plus acquire additional narrow bodied jets plus a bit or horse trading on existing assets; and they are long term planners; its the nature of the business. In the past Avation have sold a large portion of the fleet when a suitable offer arrived and prior to COVID they did put the company up for sale, so management are up for a big exit but that would be looking for around 600p or more according to management (although shareholders would have the final say). The discount is significant but depends how you want to measure it. How its measured between other lessors and how its measured by accountants/investor This is why many think the catalyst will be the bond refinancing which is around a year or so away. That should allow the business to expand at a faster rate and/or start making meaningful dividend payments. In the meantime we know we have a large 'activist' share holder wanting to get out at some time (likely) above 150p/share. Which also implies Avation may want to buy back the second half of the activist investors' shares (first half bought and placed in treasury around December last year. So the company needs to maintain sufficient cash balance for that. So along with buying back shares, paying down debt, restarting a nominal dividend, arranging debt refinance, looking to be placed on a different LSE register and possible US listing, management appear to be doing everything possible whilst expanding the fleet for long term benefit for shareholders. Well, that's what I think... |
Posted at 22/4/2025 13:05 by popit The other aircraft leasing companies that I was talking about were AA4 and DNA3Both of these have dividend yields well over 10% and both have similar market caps to AVAP Are these two companies not in the same industry as AVAP ? So if the AVAP dividend yield is very low because of high debt, how do these other 2 companies in the same industry have dividend yields well over 10% ? Do AA4 and DNA3 not also have high debt? And if they do not have high debt, how have they managed to keep their debt so low when they are in the same industry as AVAP, and why has AVAP not managed to do this? And who are the larger peers you say that are yielding less than 3% ? The only other aircraft leasing companies that I can find quoted on the UK market are AA4 and DNA3 |
Posted at 12/4/2025 12:21 by harrogate HiThanks for your post. Always read your stuff on Lemonfool. My point on the share price was a slightly longer term view as thought / hoped it would get a bit above 50% of the NAV given the issues they have worked through. I have been buying at sub £1.40 so happy to add at these levels. I do think that when the time comes the refi will clear a logjam in the share price. But time will tell. |
Posted at 12/4/2025 10:09 by carcosa "..formerly on lease from Avation to Air Tahiti and before that wet-lease specialist GMA."I would not characterise the bond refinance as being a 'big issue' It's more of a case of which of the many options they will go for; The bonds are scheduled to mature on 31 October 2026 and it's Avation's stated aim is to use 2025 for identifying what refinancing options are best for them. Early refinancing is not desirable because there is an early penalty to be paid to the bond holders. During the final year leading up to maturity (approximately from March/October 2026), the call premium decreases to par so in reality refinancing will not occur until March 2026 at the earliest. As of 31 December 2024, the face value of these outstanding unsecured notes was $331.6m. 'Market seems to be a little unkind to AVAP at the moment' Despite the tariff-related news, the share price has barely reacted, showing only a modest decline of around 1.7%? |
Posted at 28/5/2024 22:26 by z1co Avation Plc: Capitalising on Aircraft Purchase Rights and Robust Lease GrowthMay 28, 2024 2:10 pm Avation PLC (LON:AVAP), has provided a trading update as of 24 May 2024, so DirectorsTalk Interviews caught up with WH Ireland Analysts John Cummins and Charlie Cullen for further insights. Q1: What recent developments have positively impacted Avation’s financial outlook? A1: Avation has reported significant positive developments, including an expected increase in the value of its ATR 72 purchase rights to approximately $115 million, up from $88 million at the end of 2023. This increase is due to the grant of new aircraft purchase rights and the extension of existing ones. Additionally, the company has seen an improvement in lease revenues and cash collections, benefiting from full fleet utilisation and a 19% year-over-year increase in international passenger air traffic reported by IATA. Q2: How has Avation’s recent sale agreement affected its financial position? A2: Avation has announced a sale agreement for two ATR 72 aircraft from its order book, which is expected to deliver $10 million of net cash proceeds at delivery in FY 2025E. This sale validates the substantial option value attached to Avation’s purchase rights and supports the company’s strategy of realising value through the sale or lease of aircraft. Q3: What are the updated forecasts for Avation’s net asset value (NAV) and share price? A3: Following the revaluation of purchase rights, WH Ireland has adjusted its forecasts, resulting in an implied 25% increase in NAV at the year-end. Consequently, the estimated fair value for Avation’s shares has been raised to 250p from 200p. Q4: Can you explain the strategic significance of Avation’s ATR 72 purchase rights? A4: Avation holds orders for 12 ATR 72 aircraft and 24 purchase rights, which allow the company to purchase new aircraft at a significant discount to their market value. These rights hold substantial option value, which can be realised through either the sale of aircraft upon delivery or leasing them over their lifespan. The recent extension of these rights and the grant of new ones have increased their value to $115 million, reinforcing their strategic importance to Avation’s business model. Q5: How is Avation performing in terms of lease revenues and cash collections? A5: Avation is experiencing robust performance in lease revenues, which are currently at $7.9 million per month. Cash collections have also improved, reaching 105% as airline customers repay COVID-19-related arrears. This improvement in financial metrics reflects the recovering demand in the air traffic sector and effective management of lease agreements. Q6: What are the potential risks associated with investing in Avation? A6: As with any investment, there are risks involved. Potential risks for Avation include fluctuations in international air traffic demand, changes in aircraft market values, and potential delays or issues related to aircraft deliveries and lease agreements. Additionally, macroeconomic factors and geopolitical events can impact the aviation industry, affecting Avation’s financial performance and growth prospects. Q7: What is WH Ireland’s view on Avation’s current share price? A7: WH Ireland views the current share price discount to NAV as unjustified, given the substantial progress Avation has made in deleveraging its balance sheet and the broadly validated aircraft valuations in the market. Consequently, WH Ireland sees a fair value for Avation’s shares at 250p, suggesting significant upside potential from the current share price of 140p. Q8: What are Avation’s future growth prospects and strategic plans? A8: Avation’s future growth prospects are bolstered by its valuable ATR 72 purchase rights and the strategic sale or lease of these aircraft. The company’s ability to capitalise on improving market dynamics and increasing international air traffic demand positions it well for continued growth. Additionally, Avation’s focus on deleveraging its balance sheet and improving cash collections further strengthens its financial foundation for future expansion and value creation. Written by: Anthony Fox |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
