Avation plc

LSE : AVAP


July 23, 2013 02:00 ET

Trading Update

RNS: AVAP
                                                                                                 23 July 13
                                                     
                                                AVATION PLC
                                              (the "Company")
                                                     
                                              Trading Update
                                                     
                           Revenues Continue to Grow as Aircraft Fleet Increases

Avation  PLC,  (LSE: AVAP) the aircraft leasing company, which purchases commercial passenger aircraft  and
simultaneously leases them to airlines, today provides a trading update for the financial year ending  June
30 2013.

Highlights include:

      *       Group revenues are expected to rise by 22 per cent compared to the prior year to USD 42.7 
              million; this revenue figure exceeds published market expectations
      *       Additions to fleet in the second half of the year:
                o    Two ATR 72- 600 aircraft, giving Avation a total of 12
                o    One Airbus A320 - 200
                o    One Airbus A321, acquired by Avation's subsidiary, AIM-listed Capital Lease Aviation
      *       Avation's total aircraft fleet now stands at 23 units
      *       Ten more aircraft are on firm order for delivery before the end of 2014
                o    'Contracted' growth is 43 per cent - to a fleet size of around 34 aircraft
      *       Appointment of Liberum Capital Limited and W H Ireland as joint corporate brokers
      *       Underwritten Open Offer oversubscribed by 160 per cent

Jeff  Chatfield, Executive Chairman and Founding Director said: "Trading has been very robust in the period
and  this  is  clearly reflected in the strong growth of our revenues. We are focused on  our  strategy  of
growing our fleet rapidly and diversifying our customer base. This strategy is clearly working for us and I
am  very encouraged by the high level of growth which is already locked in. I am hopeful that there is even
more to come. Given the contracted growth we are looking forward to 2014 with confidence."


Trading Outlook

The  directors have an expectation of a substantial increase in Group revenues for the year ending 30  June
2013.  These  are  expected to increase by 22 per cent over the previous year to around  USD  42.7  million
(2012: USD 35 million). These are Directors' unaudited estimates.

Several aircraft deliveries are expected in the next 12 months.


Results

Results for the year ending 30 June 2013 will be announced on the 27 August 2013.

The  results will be denominated in US dollars, which are the primary functional currency for the Company's
aircraft lease revenues and debt obligations.


                                                     
                                                  -ENDS-

More information on Avation PLC can be seen at: www.avation.net


Enquiries:

Avation PLC                                                                                                
Jeff Chatfield, Chairman                                                                   +44 7783 942 553
                                                                                                           
W H Ireland                                                                                                
Harry Ansell / James Joyce                                                                 +44 20 7220 1666
                                                                                                           
Liberum Capital Limited                                                                                    
Chris Bowman / Richard Bootle                                                              +44 203 100 2222
                                                                                                           
Blythe Weigh Communications                                                                                
Tim Blythe / Eleanor Parry                                                                 +44 207 138 3204











Contact Information

  • Avation plc