Business
Announcement by subsidiary
Announcement by subsidiary.
About this update from Avation Plc
[{"type":"text","content":"\n \n\nMarket Release 26 January 2009\n\nAVATION PLC\n\nAnnouncement by subsidiary.\n\nThe Board of Avation PLC notes the announcement of interim results by its 51% \nowned subsidiary Capital Lease Aviation (\"CLA\") this morning. The text of the \nrelease can be found on CLA's website at http://www.capitalleaseaviation.com/ and \non the London Stock Exchange website at \nhttp://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?i\nd=2076097&source=RNS and is included below in this announcement for the interest \nof Avation's shareholders.\n\nCapital Lease Aviation PLC\n(\"CLA\")\n\nHALF YEAR RESULTS - 31 DECEMBER 2008\n\nThe Board of CLA is pleased to announce the unaudited consolidated interim results \nfor the period from 1 July 2008 to 31 December 2008.\n\nHIGHLIGHTS:\n\n - Income for the period: GBP 7,085,464; \n\n - Profit after tax: GBP 3,429,326;\n\n - Earnings per share (after tax): 3.51 pence\n\nJeff Chatfield, Executive Chairman said \"Results for the half year were in line with \nexpectations given the obviously volatile operating environment. The aircraft that the \nCompany owns and leases have all performed well. We anticipate that further growth \nis available as aircraft valuations may become more attractive to operating lessors \nsuch as ourselves, as financial investors, banks and the like leave the sector and \nrelease their aircraft into the market.\n\nThe CLA group continues to build on the portfolio of aircraft already established, \nremains ready with its US$100 million warehouse finance facility to seek out and \nacquire on potentially attractive terms, leased aircraft which complement and add \nvalue to the existing aircraft portfolio.\" \n\nThe directors take responsibility for the contents of this announcement.\n\n---ENDS---\n\nEnquiries:\n\nCAPITAL LEASE AVIATION PLC\nJeff Chatfield, Executive Chairman 07783 942 553\n\nSTOCKBROKERS\nWH Ireland Limited 020 7220 1690\n\nNOMINATED ADVISER\nJames Joyce, David Porter\nWH Ireland Limited 020 7220 1666\n\nWebsite http://www.capitalleaseaviation.com/\n\nDirectors' Review of Operations and Strategy\n\nThe Company's results reflect profits from lease income resulting from aircraft \nacquisitions and the benefits of business systems put in place during our first year of \noperations. The Company's fleet currently comprises of three F100's, two ...