24 April 2017 – portfolio transaction
The company has now confirmed the disposal of six ATR72-600 aircraft which was mooted on 16 March and which was mentioned in our article on the company in our issue of 29 March. This disposal is still subject to confirmation of bank finance by the purchaser, but assuming this is available Avation will receive net proceeds of $31m which it will use to further diversify the company’s aircraft portfolio. The transaction is expected to conclude before the end of June and is seen as good news for the group. The shares remain a BUY.