Avation PLC (LON:AVAP), the commercial passenger aircraft leasing company, provides the following trading update as of 24 May 2024:
The Company expects to report a profit for the year ending 30 June 2024, which is significantly ahead of current market expectations.
Fleet
Avation’s fleet comprises 34 aircraft leased to 16 airlines in 14 countries. The fleet includes 19 ATR turboprop, 13 narrowbody jet and 2 widebody jet aircraft. As of 30 April 2024 the average age of the fleet was 7.2 years and the average remaining lease term is 4.3 years
All aircraft are currently leased with the fleet currently generating total monthly lease rentals of US$7.9 million which has increased due to fact that the fleet is now fully utilized.