- Avation said it expected lease rental revenue to rise by about 12% in the first half of the year, but gains from aircraft sales were expected lower on-year.

The aviation company estimated that lease rental revenue for the half-year ended 31 December 2019 would increase by 12% to approximately US$65.2m on-year.

Avation said it had signed a letter of intent to lease both aircraft - repossessed from Thomas Cook - to an existing customer on long-term leases expected to commence in December 2019.

Since 1 July 2019, the company delivered two ATR 72-600 aircraft to customers and expected to take delivery of three additional ATR 72-600 aircraft from its order book before the end of the current year.

Avation's fleet stood at 48 aircraft to date.

The company declared an interim dividend of US 2.1 cents per share, up from US 2.0 cents per share on-year.

At 8:50am: [LON:AVAP] Avation Plc share price was -8p at 267.5p

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