Avation
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Avation (AVAP) investor relations material

Avation H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Avation PLC
H1 2026 earnings summary26 Feb, 2026

Executive summary

  • Owned a diversified fleet of 33 aircraft leased to 16 airlines across 15 countries as of December 31, 2025, with a focus on narrow-body and turboprop aircraft and a fully utilized fleet.

  • Achieved portfolio growth through new ATR deliveries, secondary market acquisitions, and lease extensions, including a key A330-300 lease with EVA and new ATR 72-600 placements.

  • Improved credit ratings (Moody’s B1, Fitch B, S&P B), extended debt maturity with a $300 million bond due 2031, and maintained a stable capital structure.

  • Net indebtedness reduced by $61.5 million to $542.7 million, and net asset value per share increased to £2.74 ($3.70).

  • Share buybacks reduced outstanding shares by 6.4% since June 2025.

Financial highlights

  • Total income for the six months ended December 31, 2025, rose to $56.0 million, with EBITDA at $54.0–$55.6 million and operating profit up to $29.3 million year-over-year.

  • Net loss after tax of $4.9 million, mainly due to non-recurring non-cash expenses related to bond redemption.

  • Net indebtedness reduced to $542.7 million from $604.2 million at FY2025.

  • Net asset value per share increased to £2.74 ($3.70), aided by share buybacks.

  • Lease rental revenue decreased 1.0% to $44.1 million due to asset sales, but total revenue increased.

Outlook and guidance

  • Fleet projected to grow from 33 to 45 aircraft by FY2028, with nine ATR 72-600s scheduled for delivery by Q2 2028 and 24 ATR 72 purchase rights through June 2034.

  • Lease yield expected to remain above 11% in the near term.

  • No significant loan maturities until FY 2028, providing financial stability.

  • Focus on portfolio optimization, disciplined capital allocation, and maintaining financial flexibility.

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Frequently asked questions

Avation PLC is an aircraft leasing company engaged in the acquisition, leasing, and sale of commercial passenger aircraft. The company provides leasing solutions to airlines worldwide, focusing on a fleet that includes narrow-body and regional aircraft from manufacturers such as Airbus and ATR. Avation offers operating leases, fleet management services, and financing solutions to support airline operations. Avation PLC is headquartered in Singapore, and its shares are listed on the London Stock Exchange (LSE).

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