IOMINVESTCOM
03 Jan 2017
Re: Reduced weighting Hi Ayah,Still like these but preferred to bank some at highs. If they take another leg higher from these levels will still get some exposure to that from remaining holdings.I noticed SCSW is out a week earlier this weekend and will give their 2017 recommendations. With the good share price performance today will be interesting to see if the likes of AVAP, ARW, FDP, PHTM & SERV gets a positive comment / write up.GLTA
ayah
03 Jan 2017
Re: Reduced weighting I like the value long term, both NAV and particularly DCF.
IOMINVESTCOM
03 Jan 2017
Reduced weighting Decided rightly or wrongly to sell a few here which banks 87% gain from April 14 @ 1.06.News could come out shortly about returning value to shareholders if a deal comes off but decided a little speculative and rather bank some profit.Only October they were trading sub 1.50Still holding some if any news on this front comes off and they continue higher.GLTA
IOMINVESTCOM
26 Oct 2016
Paul Scott's view [link]
IOMINVESTCOM
26 Oct 2016
Sounds promising realising value for shareholders AVATION PLC("Avation" or "the Company"
TURBO PROP PORTFOLIOAvation PLC (LSE: AVAP), the commercial passenger aircraft leasing company advises that it has received an expression of interest for the purchase of its current portfolio of ATR turbo prop aircraft. The company will evaluate the expression of interest in due course and emphasises that discussions are at an early stage with no decision having been made. Accordingly, there is no certainty that any definitive agreement will be entered into and there is no certainty that any transaction will materialise from the current discussions.The Company has 24 ATR72 aircraft with two currently under finance leases; the size of the portfolio the subject of the expression of interest is 22 aircraft. The portfolio comprises relatively new ATR72 aircraft with a remaining lease term of approximately 6.3 years and are leased to a number or airlines in Europe, Asia and Australia.The Company's Executive Chairman, Jeff Chatfield, said: "As a matter of policy, the Company is willing to sell aircraft and reinvest the proceeds in order to fund the equity for purchases of new aircraft. If this proposed transaction is to progress, the net proceeds would need to deliver shareholders significant value above book value. We would seek shareholder approval for any portfolio transaction of this scale. No decision on a sale has been made. However, the directors are willing to consider a proposal aligned with attractive shareholder returns for this portfolio, a portfolio which currently generates strong cash yields for the Company."The Company will make further announcements in due course as and when there are any relevant developments.-ENDS-
claude reins
17 Jun 2016
Re: Virgin Australia May well affect AVAP. Not clear from reading the link whether they are downsizing or will move to other more efficient aircraft (purchase or more likely on lease) in which AVAP may participate? They ahve been into larger planes reently. It does sound like downsizing to me but would be interested in your thoughts, Jane.
janebolacha
16 Jun 2016
Virgin Australia Virgin Australia planning to cull some of their ATR aircraft, presumably some of those on lease from Avation:"The efficiency program will target fleet and network optimisation, including removing four to six ATR turboprop aircraft and all E190s over the next three years, plus improvements in fleet utilisation. It will also target savings in crew and ground operations, maintenance and engineering, scheduling efficiency and procurement and the supply chain, particularly in areas such as major contracts, fuel handling, catering and heavy maintenance."[link]
janebolacha
28 Feb 2016
Re: Delivery of Airbus to Thomas Cook Claude, AVAP is trading at about 13% below NTBV so on that basis there would seem to be room for the sp to move up a little more. There are, imo,at least two other factors to consider, one which could be positive, that is the Oceanwood holding of close to 30%. With interest rate levels perhaps likely to remain grounded for longer than expected, the returns from something like aircraft leasing, a sector still growing at a decent rate, might look attractive to pension schemes and the like which may be looking to lock in returns that are above those they can obtain elsewhere. That may be what interests Oceanwood, that's simply one possibility, of course, that they might buy out AVAP, repackage it in some way and sell it on. Jeff Chatfield's holding of close to 20% would, imo, be insufficient to prevent that, should that situation arise. The possible negative, at least for me, and one which comment I have seen on the latest results seems to have missed, is that the exceptional interest charge of $4.1m in the half-year from interest on loan notes drawn down but unused productively is quite likely not at all a one-off event but is quite likely to be a regular feature of AVAP's results in future years, although we don't know the amounts that will be involved. What I mean by that is that drawdowns under the US$500m facility are likely also to be in amounts of US$100m, since the providers of the facility will almost certainly have imposed that requirement in the agreement with AVAP since they will, in turn, have to market and parcel out portions of it in smaller amounts. So it will require AVAP to be extremely nimble in their financial and commercial management, that is in coordinating the values of asset purchases with the timing of the amounts draw down, so as to avoid having perhaps large amounts of quite expensive funds simply lying around earning nothing. The loan note facility is to be AVAP's main financial fuel for growth in future years so there is, imo, likely to be this drag on profits for as long as the loan note facility is in place and used to fund top-line growth. I am travelling and was not able to listen to the podcast so I do not know whether these two matters were covered in it. Tbh, I am in two minds now on AVAP, the downside seems to be limited but the growth potential, in profit terms, perhaps now also capped in a way difficult to quantifyAll IMHO, DYOR.
IOMINVESTCOM
26 Feb 2016
Share price direction Watching with interesting as signs of strength.I have the following resistance levels 1.52 / 1.61 / 1.75[link] year chart above which i "think" is trying to break the pendant flag to the upside. A little early as not enough signs but look promising and I am watching that 1.52 level with interest.About time the brokers revised their targets. GLTA
claude reins
26 Feb 2016
Re: Delivery of Airbus to Thomas Cook Hello Jane. I listened to the webcast from the company the other day. Did you? Whether yes or no, what thoughts on the future SP trend for this company? Always interested in your well thought-out comments.
janebolacha
26 Feb 2016
Delivery of Airbus to Thomas Cook [link]
janebolacha
16 Feb 2016
Firm $130m order placed with ATR [link]
valuemanbuyer
06 Jan 2016
Re: Oceanwood Thx Jane -they've either spotted deep value or theres something afoot !
IOMINVESTCOM
06 Jan 2016
Downtrend breaking today?? Towards the close the share price popped higher which may relate to Oceanwood recent news. Chart today breaking downtrend which interests me.[link]
II Editor
06 Jan 2016
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