Share Name Share Symbol Market Type Share ISIN Share Description
Gama Aviation Plc LSE:GMAA London Ordinary Share GB00B3ZP1526 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.00 -5.19% 36.50 6,631 12:18:35
Bid Price Offer Price High Price Low Price Open Price
35.00 38.00 38.50 36.50 38.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 234.84 10.96 -54.82 23
Last Trade Time Trade Type Trade Size Trade Price Currency
13:49:32 O 1,567 35.00 GBX

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Date Time Title Posts
10/9/202008:22GAMA AVIATION : post-merger with Hangar 81,475
24/1/201910:59Gama Aviation1

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Gama Aviation Daily Update: Gama Aviation Plc is listed in the Industrial Transportation sector of the London Stock Exchange with ticker GMAA. The last closing price for Gama Aviation was 38.50p.
Gama Aviation Plc has a 4 week average price of 36p and a 12 week average price of 32.50p.
The 1 year high share price is 76p while the 1 year low share price is currently 31p.
There are currently 63,611,279 shares in issue and the average daily traded volume is 2,363 shares. The market capitalisation of Gama Aviation Plc is £23,218,116.84.
napoleon 14th: Update: Gama Aviation We cannot be so upbeat about Gama, unfortunately. The aviation services business had plenty of troubles even before coronavirus came along. Now the shares stand 84pc below where we added them to the IHT Portfolio on the strength of Downing’s large stake in the firm. The fund manager has now given up and crystallised its loss and we must face the music too. Questor says: sell Ticker: GMAA Share price at close: 36p
1activeinvestor: Biz flights up for certain as more go private to stay safe. Should be a big boost for Gama, and now that their cash flow problems are resolved, the share price is due for a correction.
1activeinvestor: I suspect the share price is dropping because the business is running out of cash
jeevsje: Spoke to their PR lady last week to understand lack of trading update and discuss share price drop on limited volume. She said she will discuss with the company and they will RNS date of trading update. Clearly useless and never quite understood why they pay these PR people.
2marinov: Good evening chaps, my view is that lack of trading update is driving share price down. At that price maybe someone will knock on the door with offer. Market cap of £35mil. is not a lot. Surely if the guide of $10-$11 mil profit is correct re-rating should happen. Any thoughts?
rivaldo: Interesting - a 500,000 share buy at 69.2p. No wonder the share price has crept back upwards recently.
rivaldo: Good to see the share price bouncing most days last week - hopefully that was the bottom. Extensive interview with the MD of Gama Aviation Asia about their prospects in China and the rest of Asia: Https:// Extracts: "Gama Aviation Eyes Asian Expansion April 13, 2019, 11:00 PM Farnborough, UK-based Gama Aviation has started to build up its general sales agent (GSA) network in the Asia-Pacific region aimed at getting more aircraft owners in the region using its management services, as it eyes opportunities to grow its footprint out of Hong Kong, particularly into Mainland China. Sergio Oliveira e Silva, managing director of Gama Aviation Asia (Booth B523), told AIN, “The Chinese government is doing very good things that in the mid- to long term will be very good for China." He continued: “They appreciate international companies that respect compliance,” and suggested, “small Chinese companies will struggle.” And of Gama’s plans? “We’ll try to replicate in China in the next couple of years what we’d done in Hong Kong [with Hutchison Whampoa]. We’re hoping to identify strong local partners around Asia to act as our GSAs. If that allows us to grow the fleet, it could lead to acquisitions at a later stage. So we want to expand our footprint in Asia, but Hong Kong will always be the regional office for Gama.” In terms of its regional fleet so far, Oliveira e Silva said, “We now have six aircraft under our management and are going to bring two Globals—a 6000 and an XRS—to the region, fully dedicated to charter.” He confirmed the aircraft belong to a “customer.” “They should be here ready for the summer time. They are currently parked at Bournemouth [Gama’s new facility in the UK]. Charter is getting very busy.” "So he prefers to focus on growing organically. “The GSA concept and evolving the organization is my favored option.” Oliveira e Silva says the priority countries for Gama are China and Australia, “but most likely the first ones will be Japan and South Korea. We’ll reveal the GSAs at ABACE, hopefully.” He added that “the three main bases” for business aviation in the region today are Hong Kong, Beijing, and Shanghai “so our focus will be on northern China,” as the south is covered by Hong Kong." "Maintenance & Support On the maintenance side, Gama established a foothold at Hong Kong Chek Lap Kok in late 2017 when it signed a collaboration agreement with China Aircraft Services Ltd (CASL) as the exclusive GSA to sell CASL’s business maintenance capability in Asia. Oliveira e Silva said, “We are also looking at opportunities in China. If we developed line maintenance in China as we did in the U.S., that would be very useful. I’m a strong believer that China needs a line maintenance network, and we have already started talks. There is a fleet of 300 aircraft based in China with thousands of hours of maintenance required per year, so the market is there.” He noted that at present the majority of aircraft have to go out of China for maintenance. “People have to go to Singapore, or even the U.S., even for a small check. Even in Beijing there are very limited facilities. Or they have to pay a premium for someone to meet them somewhere in China.” At present, he said, “We work into China from CASL. We run the private jet Part 145 at CASL and it’s something we want to develop further.”
rivaldo: Interesting to see that the Managing Director of Hutchison Whampoa (China) has now been appointed as Chairman..... Https:// HW have unsurprisingly confirmed they won't be bidding for GMAA - but with their 21.7% stake it's interesting that this RNS sets out their rights if an offer by a third party comes along. Perhaps this is a possibility given the bombed-out share price.
rivaldo: GMAA seem determined to make things worse before they get better :o)) Last night's RNS was a bit of puzzler. It looks like they're kitchen sinking everything into last year's results to have a clean slate going forward, which seems eminently sensible, if fatal for the share price. The detail is rather confusing. For example, is the $2.8m figure of additional costs mentioned last night actually a reduction from the $3m reduction stated in the 24th January update? If GMAA can actually deliver, as they have stated, a similar core performance in 2019 to that in 2018, then this share price is very good value. It's encouraging that GMAA have again noted that the 2019 outlook remains in line with expectations - and that as you'd expect given the historic Balance Sheet the company remains well funded. But until the H1'19 trading statement/figures are out it'll be difficult to find many investors who will trust them.
rivaldo: Good to see Simon Thompson remains positive here - I'll paste it whilst it's free to read: Https:// "Simon Thompson 4 hours ago Gama on course for strong second half Shareholders in Aim-traded Gama Aviation (GMAA:187p) suffered a bout of turbulence over the summer after the operator of privately owned jet aircraft reported a flat trading performance in the first five months of the 2018 financial year. (‘Gama shares hit turbulence’, 5 June 2018). In the event, Gama reported a $400,000 decline in its first half underlying pre-tax profits to $6.6m which translated into a 10 per cent drop in adjusted EPS to 11¢. One reason for the shortfall was a near 20 per cent decline in operating profits to $3.39m in Gama’s US air division. This reflected investment made in the US sales force in the final quarter of 2017 to support future growth of this fast growing business. This explains the reduction in divisional operating margins to 1.6 per cent compared to 2.2 per cent in the first half of 2017. However, chief executive Maarwan Khalek points out margins would have been closer to 2.4 per cent (last year’s outcome) without making this investment and having done so should “resume their steady improvement towards a target of between 4 to 5 per cent.” That’s a fair assumption to make given that low double-digit revenue growth is being targeted in the US air business. In the first half, divisional revenues increased by almost 9 per cent to $206m. In Europe, Gama’s ground services division was held back by challenging trading conditions and its operating profits dipped by $116,000 to $4.46m on revenue of $26.7m. Part of the reason was uncertainty over the future of Oxford airport, an issue that has been addressed by moving the bases in Oxford and Farnborough to Bournemouth International Airport. This has doubled engineering capacity, improved the service offering and should support scalable growth. The $2m restructuring cost of the move (to complete in the fourth quarter of 2018) will largely be recouped by rent free periods on its new facility and capital incentives from its new landlord. I am not concerned about the fact that the Middle East ground services unit’s $210,000 operating profit at this stage of 2017 reversed into a $68,000 loss. This reflected a 10 per cent decline in revenues resulting from political uncertainty in Saudi Arabia. The situation is now more stable. Also, the Middle East air business actually made up that regional shortfall. Shareholders backed a placing at 245p a share that raised £48m in the spring which means Gama ended the period with $21m (a sum worth 25p a share) of net cash and an untapped 4-year credit facility of $70m priced at 1.9 per cent above Libor. The funds will help support the expansion plans I outlined in my last article (‘Gama shares hit turbulence’, 5 June 2018), as well as strategic bolt-on acquisitions which Mr Marwaan expects to conclude by the year-end. Around $4.3m of exceptional charges were booked in the first half of which $1.8m related to the cost of litigation which includes both the recovery of money outstanding from clients, and proceedings brought by clients. Mr Maarwan asserts that the overall awards and litigation settlements will result in a cash inflow, and only one major case remains outstanding. The company is also “trading in line with full-year forecasts” even though 35 per cent of this year’s expectations were delivered in the first half (against a normal 40 per cent weighting). Analysts at WH Ireland are maintaining their 2018 pre-tax profit estimate of $19.9m and EPS estimate of 26.4¢, implying 16 per cent profit growth on 2017. So, with the share price drifting from 206p when I rated the shares a hold during the summer to 187p, this means that they are rated on a forward PE rate of 9. That rating doesn’t take into account an underleveraged balance sheet and potential to make earnings accretive bolt-on acquisitions. It doesn’t take into account margin expansion in the important US air market either, nor for that matter a reasonable dividend (2.75p a share payout for 2017 financial year). So, although Gama’s shares have disappointed this year, I feel that they are worth holding because if Gama’s management execute on their expansion strategy, and the US economy stays strong, then there should be upside to both profits and the share price. Indeed, WH Ireland still expects EPS growth of 50 per cent in the 2019 financial year, penciling in EPS of 39.8¢ based on pre-tax profits of $32.1m. On the basis of the current sterling dollar exchange rate of £1:$1.30, this implies EPS rising above 30p in 2019 and a forward PE ratio of six. In the circumstances, I would continue to hold the shares."
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