avation

Impairment weighs on results but liquidity is healthy

  • Sectors : Aircraft Leasing
  • Companies : avation

Ratings and price correct at time of issue.

  • avation

    Closing Price: 101.0p

  • RATING 01/11/19

  • PREVIOUS RATING N/A

DAVY VIEW

Avation’s FY 2020 results, including an impairment charge of $35.5m, demonstrate the difficulties that COVID-19 has exerted on the industry. However, Avation has been proactive on liquidity -preserving and rejigging the amortisation schedule of its secured debt – thus, it finished the year with slightly better cash on hand year-on-year. In that context, it remains difficult to explain the $145m of market value that Avation has lost since February.

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Oct 23 2020, 07:15 IST/BST

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