Avation concludes share buyback

Avation PLC (LON: AVAP), has announced that it has concluded a repurchase of 7,800,000 shares, through the market, at 150p each, representing 10.45% of the 74,671,886 ordinary shares in issue. Repurchased shares will be held in treasury. Following this transaction, the company has 66,871,886 voting shares in issue.

Jeff Chatfield, Executive Chairman of Avation PLC, said, ‘This repurchase of shares was made under the current share buyback mandate granted at the last AGM and as previously advised. The number of shares repurchased is a significant portion of the company’s issued share capital and demonstrates our commitment to maximizing value for shareholders through both capital structure management as well as aircraft portfolio growth. It also underscores the deep value we see in our own shares, in the context of robust aircraft and airline end-markets, comparable aircraft transaction multiples, our existing fully utilized fleet, and the accretive growth pipeline embedded in our ATR orderbook and purchase options.

We repurchased shares at a 47% discount to the last reported Net Asset Value per share of 285p, making this transaction highly accretive to all residual shareholders in the Company. We will continue to pursue all avenues to manage the capital structure and maximize shareholder value, including further accretive transactions of this nature in addition to our articulated portfolio growth strategy.’

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Avation plc

More articles like this

Avation plc

Vietnam’s regional aviation boom unlocks growth and connectivity

Vietnam’s aviation sector is on the brink of transformation. ATR, the world’s leading manufacturer of regional aircraft, has unveiled a compelling whitepaper, “Propelling Vietnam’s Regional Aviation,” showcasing the immense potential of regional air connectivity. Presented at

Avation plc

ATR strengthens its commitment to gender equality in aviation

On International Women’s Day, ATR reaffirmed its dedication to fostering gender equality and inclusion within the company and across the aviation industry. By implementing long-term initiatives and driving awareness, ATR continues to shape a more diverse

Avation plc

Avation expands its portfolio with Airbus A320 acquisition

Avation continues to strengthen its fleet and diversify its customer base with the acquisition of an Airbus A320 on lease to Etihad Airways. This strategic move enhances Avation’s portfolio, reinforcing its position in the commercial passenger

Avation plc

ATR brings Starlink high-speed internet to regional air travel

ATR, the global leader in regional aircraft manufacturing, is revolutionising passenger experiences with the integration of Starlink high-speed internet across its fleet. Following rigorous tests on its ATR 72-600 aircraft and certification by EASA, ATR is

Avation plc

Avation PLC thriving amid strong air travel demand

Avation, a Singapore-based aircraft leasing company, strategically positions itself in the thriving aviation sector amid supply chain constraints, focusing on shareholder value and sustainable growth.