Avation PLC TRADING UPDATE AND RESULTS TIMETABLE (8571O)
03 February 2023 - 6:24PM
UK Regulatory
TIDMAVAP
RNS Number : 8571O
Avation PLC
03 February 2023
Via RNS and SGXNET
AVATION PLC
("Avation" or "the Company")
TRADING UPDATE AND RESULTS TIMETABLE
Avation PLC (LSE: AVAP), the commercial passenger aircraft
leasing company provides the following update for the half-year
ended 31 December 2022.
NOTICE OF RESULTS
Avation expects to announce unaudited results for the half-year
period ended 31 December 2022 on 3 March 2023.
FLEET METRICS
The Company's key fleet metrics are as follows:
31 December 2022 30 June 2022
Number of aircraft 37 39
-------------------- --------------------
Number of airline customers 16 17
-------------------- --------------------
Weighted average age 6.1 5.6
-------------------- --------------------
Weighted average remaining
lease term 5.4 5.7
-------------------- --------------------
Total contracted future
lease revenue receivable $509m $568m
-------------------- --------------------
Aircraft order book ATR 72-600 ATR 72-600
Two firm Two firm
28 purchase rights 28 purchase rights
-------------------- --------------------
TRADING UPDATE
Avation expects half year revenue to be approximately $46
million. The airline industry is continuing a recovery from the
lows seen during the COVID-19 pandemic. Global domestic air travel,
as reported by IATA, has recovered to around 77% of 2019 levels
while international travel has recovered to around 73% of 2019
levels.
Avation is focussed on the execution of deliveries and sale
agreements for its remaining off-lease aircraft in the second half
to June 30, 2023.
-ENDS -
Enquiries:
Avation PLC - Jeff Chatfield, Executive Chairman +65 6252 2077
Avation welcomes shareholder questions and comments and advises
the email address for questions is: investor@avation.net and the
Company provides an investor Q & A during the conference call
associated with release of results. The head office telephone
number is +65 62522077.
Notes to Editors: Avation PLC is an aircraft leasing company,
headquartered in Singapore, owning and managing a fleet of
commercial passenger aircraft which it leases to airlines around
the world. More information on Avation is available at
www.avation.net .
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END
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