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DPA Dp Aircraft I Limited

0.0625
0.00 (0.00%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Dp Aircraft I Limited LSE:DPA London Ordinary Share GG00BBP6HP33 ORD PREF NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.0625 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
0.055 0.07 0.0625 0.0625 0.0625
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Air Transport, Nonscheduled 16.46M 7.66M 0.0320 1.88 14.36M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.0625 USD

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Date Time Title Posts
09/1/202411:17DP Aircraft I Ltd63
18/4/201507:15data protection abuse5

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Posted at 19/4/2024 09:20 by Dp Aircraft I Daily Update
Dp Aircraft I Limited is listed in the Air Transport, Nonscheduled sector of the London Stock Exchange with ticker DPA. The last closing price for Dp Aircraft I was US$0.06.
Dp Aircraft I currently has 239,333,333 shares in issue. The market capitalisation of Dp Aircraft I is £14,360,000.
Dp Aircraft I has a price to earnings ratio (PE ratio) of 1.88.
This morning DPA shares opened at US$0.06
Posted at 18/11/2020 23:17 by apollocreed1
I am struggling to understand why DPA took on loans from banks when they should have instead used shareholders funds to purchase the planes.

I've just been looking at these websites - assuming they are accurate and up to date then there is still a market for Boeing 787-8 planes.

hxxps://www.statista.com/statistics/273941/prices-of-boeing-aircraft-by-type/


Data is as of October 2020.
Posted at 25/5/2020 17:51 by apollocreed1
But can DPA not repossess their aircraft and resell them to another buyer in future if the market improves?
Posted at 21/5/2020 18:45 by pimsim
Norwegian Air share compensation

So reading between the lines they have been given 154,189,712 shares at a conversion price of NOK4.24919 which effectively implies a loss of roughly $66m in future rental payments. We know that they won't get anything for the 12months from Apr 20 to Mar 21 (not sure about March 20?) amounting to $29.85m so implies annual rental from April 21 will be down approx $7m for each of the following 5 years. Assuming Norwegian Air lasts that long!

Surprised they have ended up with 5% of total issued share capital of Norwegian? I wonder if the other creditors negotiated a better deal?
Posted at 15/5/2020 16:14 by robizm
Someone wants out at any price.
Posted at 14/5/2020 09:55 by pimsim
ROBIZM, I don't think so. The whole point of the debt for equity swap is to reduce the obligations of Norwegian to creditors and lessors.

The section related to Norwegian states:

All of Norwegian's payment obligations until 30 June 2020 are to be waived to the extent that they have not already been met; and from July 2020 to March 2021 a 'power by the hour' arrangement will instead apply. Under this arrangement, Norwegian will only pay lease rentals in respect of the two assets which it has leased from the Company to the extent that they actually operate them.

- The 'power by the hour' arrangement will come to an end on 31 March 2021. Thereafter Norwegian will make monthly lease payments to the Company again, at a reduced rate to that which has applied to date, reflecting the downward pressure on market rates for lease rentals that is widely anticipated in the aftermath of the Covid-19 crisis.

- In addition to monthly lease rental payments the Company will receive equity in Norwegian, with the number of shares to be calculated by reference to the monies which are being waived and/or forborne by the Company as a result of the 'power by the hour' arrangement and the reduced monthly rental amount from April 2021.




There is a section further down regarding deferred payments but this relates to DPA deferring payments to it's banks NOT to Norwegian:

"Repayments of principal due during the period from May 2020 to March 2021 will be deferred, and the profile of debt service for the period starting from 1 April 2021 will be adjusted to reflect the proposed reduction in Norwegian's monthly lease payments. All deferred amounts must be repaid by 30 June 2025 at the latest (with prepayment permissible without charge)"
Posted at 13/5/2020 20:00 by pimsim
Interesting point.

I assume, up to now, Norwegian have been entitled to the RR compensation since they have had to make the monthly lease payments but can't use the planes. If they are moving to a 'power by the hour' payment from July and obviously won't use the planes while the engine issue remains does that mean DPA will be entitled to compensation from RR until the engines are fixed. If so, it actually helps to have the planes out of action!
Posted at 04/5/2020 17:59 by robizm
According to the telegraph debt restructuring completed. 95% wipe out for the airline shareholders. Shares due to lessors and bond holders for converting just under 1 billion dollars of debt to equity. Wonder how that affects dpa
Posted at 20/3/2020 08:39 by pimsim
Good News and makes DPA look tempting at the current price.
Posted at 30/10/2019 17:53 by apollocreed1
I'm thinking that it might be possible to partially hedge a long position in DPA by shorting the Norwegian Air Shuttle stock.

I can short without any financing costs via Spreadco or Ayondo Markets. I would take a short position in Norwegian of about 30% of my long rather than a 1:1 ratio because DPA has limited negative exposure to Norwegian rather than being fully exposed to any negative performance of the company.

I don't think the same could be done with Thai airways as not sure if it's shares are available on normal markets.
Posted at 12/10/2019 15:22 by rambutan2
For the pessimists:

Norwegian
Norwegian is a low cost airline and uses the Existing Assets to operate low cost long haul flights. There is no guarantee that Norwegian’s business model to operate low cost, long haul flights or any other part of its business will be successful. Failure of any material part of Norwegian’s business model may have an adverse impact on its ability to comply with the Existing Leases.

In the event that the NAS Leases are terminated as a result of a default by Norwegian, there is a risk that the Company will not be able successfully to remarket the Existing Assets within the remarketing period specified in the Existing Loan Agreements and that (after using the security deposits and the Liquidity Reserve) the Company will not have sufficient liquidity to comply with its obligations under the Existing Loan Agreements. This may lead to a suspension in distributions paid on the Shares and/or a reduction in the value of the Shares and have an adverse effect on the Company and could ultimately result in the Existing Lenders enforcing their security and selling the relevant Existing Asset or Existing Assets on the market. There can be no guarantee that the Company will be able to re-lease the Existing Assets on terms as favourable as the NAS Leases, which may have an adverse effect on the Company and its ability to meet its investment objective. The price paid by the Company for the Existing Assets partly reflects the terms of the NAS Leases to which the Existing Assets are subject. Accordingly, were either or both of the Existing Assets to be re-leased on less favourable terms, this may have an adverse effect on the value of the Existing Assets and therefore the Share price.

The non-performance of the obligations by Norwegian under the NAS Leases or a winding-up of Norwegian could expose the Company to further unexpected expenses such as insurance cover for the non- performance of the obligations by Norwegian under the NAS Leases or a winding-up of Norwegian could expose the Company to further unexpected expenses such as insurance cover for the Existing Assets and the cost of repair and maintenance of the Existing Assets which would normally be borne by Norwegian pursuant to the terms of the NAS Leases. The Company may apply any security deposit and maintenance reserve amounts that it has received from Norwegian towards such expenses, but it will have to cover any shortfall to the extent that the security deposit and maintenance reserves are insufficient to cover all such expenses. Please see the risk factors entitled “Insurance of the Assets” and “Risks associated with the Boeing 787-8” on page 23 of this Prospectus.
Dp Aircraft I share price data is direct from the London Stock Exchange

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