Amedeo Afp Share Price (AA4)

The last audit had NAV at circa £1 so if they pay 20p to July 26 that leaves 18p v potential 80p NAV that's an interesting difference to put fair value at 40p v NAV of £1 seems a big discount. It will play out in time worth riding it out IMHO

Thanks for the response. I thought the lease income covered running operation and the divi, otherwise there is no profit and its no better than a savings account you draw on each quarter?

From 1 January 2023, the Company now receives fixed rent from Thai until the original lease expiry dates, rather than on a power by the hour basis. The airline’s rehabilitation remains ongoing, however lease payments are sufficient to meet debt service ,and a contribution towards expenses, without recourse to the Company’s other funds.

Guitarsolo. Broadly speaking so do I-hence hanging on. I don't understand how Thai Airways filed for bankruptcy protection but is now profitable and not making payments for its leased aircraft. What am I missing here?

SK, personally I think that most (not all) of the uncertainty around income and dividends it towards the upside. Planes coming into service, possible lease extensions (if you think that's possible), even Thai paying something for their aircraft!

My point is that even from here, the Emirates income distribution covers much of the share price. Which leaves the connundrum of what is the value after the leases v the time cost of money.

I hold a reasonable number but could add if the share price drops quicker than the finite income is paid out, and I remain positive about the post-lease value.