Avation PLC with ticker (LON:AVAP) now has a potential upside of 48.3% according to Canaccord Genuity.
AVAP.L
Canaccord Genuity set a target price of 255 GBX for the company, which when compared to the Avation PLC share price of 172 GBX at opening today (21/10/2024) indicates a potential upside of 48.3%. Trading has ranged between 102 (52 week low) and 176 (52 week high) with an average of 243,103 shares exchanging hands daily. The market capitalisation at the time of writing is £120,848,333.
Avation PLC is a Singapore-based commercial passenger aircraft leasing company. The Company is engaged in managing a fleet of widebody, narrowbody jet and turboprop aircraft which it leases to airlines across the world. It manages a fleet of approximately 34 aircraft. The Company’s portfolio of fleet includes Boeing 777-300ER, Airbus A330-300, Airbus A321-200, Airbus A320-200, Airbus A220-300, ATR 72-600, and ATR 72-500. The Company’s customers include over 16 commercial airlines in 14 countries. Its customers include EasyJet, EVA Air, Philippine Airlines, Alliance Air India, VietJet Air, Fiji Airways, Mandarin Airlines, Cebu Pacific, airBaltic, Danish Air Transport, Aerlink, PNG Air and Braathens, among others. Its subsidiaries include Avation Capital S.A., Capital Lease Aviation Limited, Avation Group (S) Pte. Ltd., AVAP Leasing (Asia) Limited, AVAP Leasing (Asia) II Limited, AVAP Leasing (Asia) III Limited, AVAP Leasing (Asia) IV Limited, Capital MSN 4033 II Limited and others.
Avation PLC 48.3% potential upside indicated by Canaccord Genuity
- Written by: Charlotte Edwards
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Avation has finalised the sale of a Boeing B777-300ER leased to Philippine Airlines, generating a material profit above book value. The transaction releases significant cash, which will be used to reduce debt and reinvest in narrowbody aircraft types as part of the company’s portfolio management strategy.
Avation expects revenue of around US$110 million for the year to 30 June 2025. The company has reduced outstanding bond debt to US$298 million through repurchases and improved its credit ratings with Moody’s and Fitch.
Avation has agreed a twelve-year lease with a Cambodian carrier for a new ATR 72-600, the second of ten aircraft ordered in 2024. Delivery is scheduled for February 2026.
Avation confirmed that one of ten ATR 72-600 aircraft ordered in 2024 will be delivered in November 2025, becoming the first aircraft in SUM Air’s fleet.
Avation, the Singapore-based aircraft leasing company, has been assigned a 'B' long-term issuer default rating by Fitch Ratings.
Avation has been assigned a first-time B1 Corporate Family Rating and B2 issuer rating by Moody’s, with a stable outlook.
