Avation (GB:AVAP) has released an update.
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Avation PLC, an aircraft leasing company, anticipates a significantly higher profit than market expectations for the fiscal year ending June 2024, driven by a fully utilized fleet generating $7.9 million in monthly lease rentals. The company is also focusing on a low-carbon strategy with an order for 12 new ATR 72-600 aircraft, and has seen positive market support for aircraft valuations and lease rates. Additionally, Avation is actively de-leveraging its balance sheet, with substantial loan repayments and a focus on optimizing finance sources to improve shareholder returns.
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