Amedeo Air Four Plus Limited Factsheet (6292Q)
22 2월 2023 - 4:00PM
UK Regulatory
TIDMAA4
RNS Number : 6292Q
Amedeo Air Four Plus Limited
22 February 2023
22 February 2023
AMEDEO AIR FOUR PLUS LIMITED (the "Company")
(LSE: AA4, LEI: 21380056PDNOTWERG107)
Factsheet
The Company announces that its factsheet for the period to 31
December 2022 is now available on its website at
http://www.aa4plus.com . An extract from the Chairman's statement
within the factsheet is reproduced below.
The big news is the reopening of China. This is significant for
two reasons. First, its closure was one of the main reasons for
international travel remaining stubbornly at around 75% of
pre-pandemic levels. Second, and of more direct relevance to us,
Chinese tourism is a big element of Thai Airways traffic and is
vital if they are to become a profitable airline. From 1 January
2023, the Company now receives fixed rent from Thai until the
original lease expiry dates, rather than on a power by the hour
basis. The airline's rehabilitation remains ongoing, however lease
payments are sufficient to meet debt service and a contribution
towards expenses, without recourse to the Company's other funds.
Thai Airways are doing well and looking for more aircraft.
Anyone who has booked a flight recently will have noticed that
air fares have jumped a lot. Whilst a majority of airlines have
re-established their route networks, frequencies still lag.
Airlines borrowed over $200 billion during Covid and these higher
fares are needed to restore balance sheets. Many major airlines
have already repaid the government support that they received.
Whilst growth in travel is generally linked to growth in GDP, and
is therefore exposed to a slowdown in economic activity, airlines
have shown increasing confidence. The massive order by Air India to
completely renew its fleet illustrates this. A newly privatised
airline in what is now the world's most populous country is a major
boost.
On 19 January we appointed Tom Sharp to the Board. Tom is a
highly experienced investor both in AA4 and elsewhere. We are now
in our 8(th) year of existence and having a voice which is attuned
to shareholder requirements and time horizons is very
important.
In the quarter we carried out a long planned visit to meet with
Emirates at their HQ in Dubai. In addition, we attended the most
important air finance conference in Europe, which takes place in
Dublin every year. 4,000 delegates attended and it is a great
opportunity to see industry trends.
One obvious trend is shortage; a shortage of aircraft, pilots,
maintenance capacity, spares and order positions. How long this
will last is anybody's guess, but whilst values of aircraft such as
A380s and B777-300ERs remain depressed, lease rates have ticked up
for B777 aircraft where they are available at the times and places
that airlines want them.
Finally, I must thank Amedeo, Liberum and JTC for their
continuing efforts as advisers to the Company.
For further information, please contact:
JTC Fund Solutions (Guernsey) Limited
+44 (0) 1481 702 400
Liberum Capital Limited
Chris Clarke / Darren Vickers / Owen Matthews
+44 (0) 20 3100 2000
About the Company
The Company is a Guernsey-domiciled company, with shares
admitted to trading on the Specialist Fund Segment of the London
Stock Exchange's Main Market (LSE: AA4).
The Company's investment objective is to obtain income returns
and a capital return for its Shareholders by acquiring, leasing and
then selling aircraft.
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END
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