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| 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
|
|
|---|---|---|---|---|---|
| 2.00 | 1.48% | 137.00 | 96,843 | 16:35:16 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 136.00 | 138.00 | 138.00 | 133.50 | 135.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Equip Rental & Leasing, Nec | USD 91.86M | USD 12.19M | USD 0.1720 | 8.02 | 95.67M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:29:48 | AT | 43 | 138.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 30/8/2024 | 22:02 | ALNC |  IN BRIEF: Avation sells two ATR aircraft to Danish Air Transport |
| 30/8/2024 | 07:00 | UK RNS | Avation PLC SALE OF TWO AIRCRAFT |
| 28/8/2024 | 10:46 | ALNC | Avation gets tax incentive extension in Singapore |
| 28/8/2024 | 07:00 | UK RNS | Avation PLC RENEWAL OF SINGAPORE TAX INCENTIVE |
| 25/7/2024 | 10:53 | UK RNS | Avation PLC NEW AIRLINE CUSTOMER |
| 28/6/2024 | 07:00 | UK RNS | Avation PLC ADMISSION OF NEW ORDINARY SHARES |
| 24/6/2024 | 13:12 | UK RNS | Avation PLC Issue of Equity |
| 10/6/2024 | 09:45 | ALNC | IN BRIEF: Avation non-executive director sells GBP200,000 in shares |
| 10/6/2024 | 07:00 | UK RNS | Avation PLC Director/PDMR Shareholding |
| 03/6/2024 | 07:00 | UK RNS | Avation PLC Holding(s) in Company |
Avation (AVAP) Share Charts1 Year Avation Chart |
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1 Month Avation Chart |
Intraday Avation Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 30/8/2024 | 10:03 | Avation - Fly to Let | 3,057 |
| 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 |
|---|
| Top Posts |
|---|
Posted at 15/9/2024 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 135p.Avation currently has 70,863,124 shares in issue. The market capitalisation of Avation is £97,791,111. Avation has a price to earnings ratio (PE ratio) of 8.02. This morning AVAP shares opened at 135p |
Posted at 30/8/2024 10:03 by carcosa Lemon Fool website is down so I'll post here instead.Bonds trading 85% higher than at start of year. However got to remember there is practically no trading going on because its an exceptionally thin market so pricing is a bit of a misnomer. There are huge price swings when a trade is made. Best indicator is when Avation buys them back ~85% face value. There are few Avation aircraft of finance leases but clearly when an aircraft is on a finance lease the expectation is that those aircraft are going to be sold at some point in the future. Hence very much part of normal aircraft leasing business. In this case the aircraft are sold at book value as opposed to market value. Therefore the proceeds may seem small but because its on a finance lease the interest received is much higher over the term of the lease. As per my own calcs: -$19,680,500 Aquisition Cost $15,317,989 Book Value $14,878,458 Rental Income* -$6,022,233 Loan Interest $4,493,714 Profit to Avation *Rental income based on being a finance lease arrangement as opposed to an operating lease. The two aircraft are OY-RUN (MSN1519) and OY-RUV (MSN1527) with a NBV of around $15m each but generated net cash proceeds, after repayment of associated bank loans, of about $5m each. What is interesting is that for the airline point of view the they are getting a $17m current value aircraft for $15m with a reduced cash outflow of $2.4m/annum. Keep it for another 5 years then that's roughly $10m saved and aircraft potential sale price of $11m. In other words its a good deal for DAT and they have an asset upon which they can use as loan collateral. Will update as usual on The LemonFool when/if that site gets back online. Also, ATR Celebrates Milestone 1700th delivery |
Posted at 25/7/2024 12:20 by faz147 Really positive news, after the sale of 2 aircraft recently.AVAP is massively undervalued now, with the company itself saying Profitability for the year will be "significantly ahead of expectations"! I hold a lot of AVAP now in my ISA and my SIPP, despite taking some profit at 147p recently, and I've also just opened a long today on SpreadEx, to ensure maximum exposure to the expected upside. Spread has been opened by dropping the bid after the positive open, so it looks like stop-losses are being targeted before the next leg up. I wouldn't be surprised if they announced a special dividend and paid off some more of their more expensive debt in the coming weeks/months, so keep this on your watch list as a minimum! |
Posted at 02/6/2024 08:27 by z1co Really strong buying on Friday afternoon including a 24,000 BUY @ £1.43 reported after the close.With two profit upgrades in May , both WH Ireland and Canccord Genuity have raised their earning estimates. 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. |
Posted at 31/5/2024 13:36 by z1co There must be a seller that's holding these shares back and once the seller is finished the share price will take off.Being quoted above the offer price of £1.43 for 5,000. Quoted £1.4373 |
Posted at 29/5/2024 07:34 by cf456 So WH Ireland, Canaccord and Simon Thompson all seeing significant upside in the share price from the current level then. All very positive.“WH Ireland sees a fair value for Avation’s shares at 250p, suggesting significant upside potential from the current share price of 140p.” “'Buy' is the rating with a target price of 280p with the shares trading ‘far below’ NAV.” |
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 |
Posted at 28/5/2024 09:12 by z1co Damian Brewer, at Canaccord has a price target of £2.30 and is saying that the current share price is not pricing-in future revenue and profit uplift. |
Posted at 25/5/2024 19:53 by z1co FishbourneYou never know the share price could well rerate towards £3 again over the next 12 months now that the company's fleet is once again fully deployed after nearly 4 years. Damian Brewer, at Canaccord has a price target of £2.30 and is saying that the current share price is not pricing-in future revenue and profit uplift. The £2.30 target was prior to "significant profit beat" announced yesterday. No doubt guidance will now be upgraded for the current and next year. |
Posted at 25/5/2024 16:58 by fishbournetrader And not only was the business booming but they had interest from a potential buyer and started a formal process to sell the company.And whilst we do not know who the potential buyer was, it is fair to say that the interest must have been at a price reasonably above 300p, which was the share price at the time. |
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 |
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