REG - Amedeo Air Four Plus - Factsheet

Amedeo Air Four PlusAnnouncement

04/05/2022 18:30

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RNS Number : 3672K  Amedeo Air Four Plus Limited  04 May 2022

4 May 2022

 

AMEDEO AIR FOUR PLUS LIMITED (the "Company")
(LSE: AA4, LEI: 21380056PDNOTWERG107)

Factsheet

The Company announces that its quarterly factsheet for the period to 31 March
2022 is now available on its website at http://www.aa4plus.com
(http://www.aa4plus.com) . An extract from the Chairman's statement within
the factsheet is reproduced below.

This is our first Factsheet for a while. We intend in future that we will mix
webinars and Factsheets so that there is information provided on a quarterly
basis.

Thai Airways is using our A350s increasingly, March hours flown are shown
below. The PBH (power by the hour) rent is now covering all costs and loan
interest and the Company's subsidiaries are once again profitable. Similar
utilization levels could imply subsidiary profitability for the remainder of
2022, and thereafter new agreed rent will commence from January 2023. The
airline is slowly bringing back more long-haul destinations, at about the same
speed as Thailand itself is emerging from Covid hibernation. Chinese tourism
will remain subdued, until China alters its vaccination and zero Covid
policies. The invasion of Ukraine and its consequences, sanctions against
Russia and high fuel prices are unwelcome developments for airlines, although
the brave citizens of Ukraine would use different language, no doubt. Still,
Thailand is an attractive, sought after and "bucket list" destination and we
expect the airline to slowly return to strength and hopefully exit the
rehabilitation proceedings later this year.

Emirates is cementing its reputation as one of, if not the, best long-haul
airline. They continue to bring their A380s back into service, with four out
of six of the Company's A380s now busy flying last month (as also set out
below), and the two B777-300ERs are fully occupied. Emirates are no doubt busy
with their fleet planning, with B777X EIS now expected to be pushed into 2025;
and we have seen some decisions made on A380 return condition selection made
in other public companies that lease A380s to Emirates.

Many shareholders have made it clear that they want to see greater
transparency and disclosure around the Company's affairs. We have begun the
process of preparing the annual results and will add qualitative and
informative details, which will only increase once Thai rehabilitation process
is completed. We will always seek to provide as much information as is
consistent with our commercial interests and enhancing the Company's value in
the interests of all shareholders.

I intend to talk to all shareholders who wish to engage with me and the other
directors. It is clear that there are a number of views and time horizons
amongst our shareholders which we must balance in deciding what is best for
shareholders as a whole.

 

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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