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Avation PLC flying high as it makes strong start to the year

Avation has a very specific niche – single aisle, twin engine planes.

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The firm's customers include firms such as Virgin Australia (pictured), Flybe and Thomas Cook Airlines.

The leasing firm Avation PLC (LON:AVAP) has increased its fleet size to 37 aircraft in 2016 from 33 at the end of last year, which has brought the average age down to 4.5 years from 5.2.

The remaining lease term has grown by 12 months in the first quarter to 6.7 years and the Avation has 100% fleet utilisation.

“The company has delivered a series of brand new aircraft to airlines during 2016; these aircraft have added scale and also improved the age and lease term metrics,” said chairman Jeff Chatfield.

Avation has a very specific niche – single aisle, twin engine planes such as the Airbus 320 and the French-Italian ATR 72 600, used by 75% of the world’s carriers for short-haul trips. The latter makes up two-thirds of the company’s fleet.

Its customers include firms such as Virgin Australia, Flybe and Thomas Cook Airlines.

Quick facts: Avation PLC

Price: 278 GBX

LSE:AVAP
Market: LSE
Market Cap: £175.78 m
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Avation PLC's 'never looked stronger' - CFO Richard Wolanski

Richard Wolanski, CFO at Avation PLC (LON:AVAP), caught up with Proactive following the release of their first half update. The fleet is now worth over US$1bn following a spate of purchases in December. Avation started to re-jig its portfolio last June when it sold six ATR turbo-prop...

on 13/3/18

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