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Avation Plc offers a package of short-term interest-bearing financial facilities to all its clients

1 min read | April 07, 2020 06:50 PM BST | By Team Kalkine Media
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Avation Plc (LON:AVAP) has released its trading statement in the context of operations during the COVID-19 pandemic.

  • The Company, which is a lessor of commercial aircraft to airlines in Latin America, Australia, Europe, and Asia-Pacific has witnessed many of these airlines’ operations getting materially impacted, by movement getting restricted in response to the COVID-19 pandemic.
  • The company has stated that its liquidity position is satisfactory with total cash of $129.0 million, trade receivables of $11.1 million and unencumbered assets valued at $53.9 million as at 3 April 2020 (unaudited).
  • While the majority of governments have offered support to their local airline industries, the company on its part has also offered a package of short-term interest-bearing financial facilities to all its clients.
  • On 7th April 2020, at the time of writing, GMT 08:32 AM, AVAP shares were trading at GBX 125.00, up by 17.50 points or 16.28% against the previous day closing price.

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