The broker WH Ireland repeated its buy ‘advice’ and 206p price target on aircraft leasing firm Avation (LON:AVAP), which has just completed the acquisition of an Airbus A320-200 on lease to Air France.
The broker pointed out that on a 0.8 times net book value and 5.5 times forward earnings, Avation is valued at a significant discount to its peers.
Yet, as WHI points out, none of its peers has Avation’s “growth trajectory”.
“We anticipate further aircraft acquisitions being made as the group deploys the capital it raised from the US$100m bond issue in May 2015,” analyst Ian Berry said.
“We anticipate Avation will continue to execute its aggressive growth strategy, growing revenue, earnings and net assets whilst also lowering its cost of capital and reducing its customer risk profile by adding new airlines.”
At 8.50, the shares were 1% higher at 137.5p each.
flydubai announced that applications are now open for its newly launched Flight Dispatcher Programme for Emirati talent. Following the MoU signed earlier this year with Emirates Aviation University, t...
Dassault Aviation Falcon 10X has successfully completed its first flight, demonstrating the program’s maturity and marking the launch of the flight test campaign.Test Pilot Sébastien...
Lufthansa Technik Philippines, the joint venture between Lufthansa Technik and the MacroAsia Corporation, is significantly expanding its footprint in the Philippines with a new base maintenance facili...
Azerbaijan Airlines expanded its fleet with another state-of-the-art Airbus A320neo aircraft. The introduction of the new aircraft is aimed at providing passengers with more comfortable and moder...
