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| Date | 3 Feb 2023 |
| Time | 07:00:01 |
| Category | Trading updates |
| ID | 8571O |
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 Two firm 28 purchase rights |
ATR 72-600 Two firm 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: [email protected] 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.