Avation H1 revenues down amid airline sector recovery

Aircraft leasing firm Avation said on Friday that interim revenues had fallen as the airline sector continues to recover from the Covid-19 pandemic.

Avation stated half-year revenues were expected to be approximately $46.0m as global domestic air travel recovered to around 77% of 2019 levels, while international travel recovered to around 73% of 2019 levels.

Number for aircraft slipped from 39 to 37 in the six months ended 31 December, while number of airline customers dropped to 16 from 17 and total contracted future lease revenue receivable fell from $568.0m in the six months ended 30 June to $509.0m.

Avation added that it was focussed on the execution of deliveries and sale agreements for its remaining off-lease aircraft in the second half ending 30 June 30.

As of 1145 GMT, Avation shares were down 5.76% at 124.40p.

Reporting by Iain Gilbert at Sharecast.com