Financial clarity lifts Avation shares

AIM-listed commercial aircraft leasing firm Avation (LON:AVAP) watched its share price rise by 37.67% to 148p (as of 12:30 GMT) after it outlined its financial position in the face of the COVID-19 crisis. Management said that the liquidity position was strong with more than $129 million in cash and, while some clients are financially struggling, the company would be able to operate for more than a year within the current environment.

No leases or scheduled commercial debt are due to end before August next year and all capital expenditure and airline purchases have been deferred.