Last checked at 30 Jun 2016 10:38
AVATION PLC
("Avation" or "the Company")
RESULTS TIMETABLE AND TRADING UPDATE
RESULTS TIMETABLE
The Company announces that it expects its results for the financial year ending 30 June 2016 to be released at 7.00 am (UK time) on 8 September 2016.
A conference call for shareholders and bondholders will be held at 1.00 pm (UK time) on 8 September 2016. Dial in details of the call will be published in due course.
TRADING UPDATE
The core leasing business of the Company has been continuing in line with expectations. Management estimates that leasing revenue (unaudited) for the financial year to 30 June 2016 will be US$71 million, with an estimated margin of error of 0.25%. This increase represents growth in revenues of approximately 25% on the prior year.
The Company has sold or intends to sell a variety of its older aircraft in line with its policy of selling assets when market conditions are favorable.
The Company continues to take delivery of aircraft from its transactional order book, with the next delivery of a new Airbus A321 currently scheduled for end July 2016.
The Company's revenues are all in US dollars which is also its reporting currency and the currency in which dividends are declared.
-ENDS-
More information on Avation can be seen at: www.avation.net
Enquiries:
Avation Jeff Chatfield, Executive Chairman | T: +65 6252 2077 |
Notes to Editors:
Avation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turbo prop aircraft which it leases to airlines across the world. The Company's customers include Air France, Condor, Air Berlin, Flybe, Scandinavian Airlines, Vietjet, Thomas Cook, Air India, Virgin Australia, Fiji Airways and UNI Air.
Avation is the second largest lessor customer of the aircraft manufacturer ATR globally and the Company is one of only a small number of aircraft lessors which have both a sales contract and option positions with ATR. ATR 72 aircraft command a leading position in the market for new turboprop aircraft with approximately 80% - 85% of the current world's 70-seat turboprop market sales.
www.avation.net