(CLA.L) Capital Lease Aviation PLC Buy/Sell

RNS Number : 9232H Capital Lease Aviation PLC 03 March 2010

3 March 2010

Capital Lease Aviation PLC

("CLA")

HALF YEAR RESULTS - 31 DECEMBER 2009

The Board of CLA is pleased to announce the unaudited consolidated interim results for the period from 1 July 2009 to 31 December 2009.

HIGHLIGHTS:

· Net Assets : US $37.56m;
· Revenue for the period: US $7.84m;
· Profit after tax: US $1.82m;
· Earnings per share (after tax): 1.86 US cents

Jeff Chatfield, Executive Chairman said: 'Results for the first half of the year are entirely satisfactory given the economic circumstances and current state of the airline industry. The result is in line with the Board's expectations given the present operating environment. The aircraft that the Company owns and leases have all performed well and the lessees are all performing well. We anticipate that further growth will be available as aircraft valuations may become more attractive to operating lessors such as ourselves, as competitors such as financial institutions and banks leave the sector and release their aircraft into the market. The Board of the CLA group continues to plan to build on the portfolio of aircraft already established.

The Board's strategic plan involves the acquisition of 737 series and Airbus A320 series new generation planes, we will ensure that these aircraft are leased to reliable operators.'

The directors take responsibility for the contents of this announcement.

---ENDS---

Enquiries:

CAPITAL LEASE AVIATION PLC

Jeff Chatfield, Executive Chairman 07783 942 553

STOCKBROKERS

WH Ireland Limited 020 7220 1690

NOMINATED ADVISER

James Joyce, David Porter

WH Ireland Limited 020 7220 1666

Website http://www.capitalleaseaviation.com/

Directors' Review of Operations and Strategy

The Group results were in line with expectations given the difficulties facing the industry during the period. Despite this, the business remained profitable and cash flow positive.

We now report in United States Dollars to reduce the effect of exchange related gains or losses in the income statement and align the reporting currency with our functional currency. Most group transactions are denominated in US Dollars.

Revenues were lower by 5% compared to the comparative period due to lower maintenance rent revenues, mainly a result of reduced aircraft usage. After-Tax Profits were down 18% due mainly to foreign exchange losses in the Australian subsidiary whilst the comparative period included foreign exchange gains. Maintenance Claim expenses were also higher.

The Group repaid $4.82m of debt during the period and the Financial Position has been strengthened with Net Assets at $37.56m, up by $2.98m compared to the comparative period.

Our fleet currently comprises three Fokker F100 jets, two Airbus A321-200's and one Airbus A320. All are currently leased to quality airlines with lease expiries ranging from September 2012 to March 2015. The company's preferred asset targets are the Airbus A320 series and Boeing 737 family of new generation aircraft as we believe these pose the lowest risk given their liquidity, appeal to operators, and ability to remarket.

Given recent signs of recovery in the global economy, particularly in the Asia Pacific region, we remain ready to take advantage of opportunities that may be available when demand in the aviation sector rebounds.

The risks to the business include typical aviation related risks, including but not limited to, any downturn in the global aviation industry, fuel costs, finance costs, war and terrorism and the like which may affect our airline customers' ability to fulfil their lease obligations.

The business also relies on its ability to source finance on favourable terms. Should this supply of finance contract, it will limit our fleet expansion and therefore growth.

Richard Sinclair

Chief Executive Officer

On behalf of the Board of Directors of Capital Lease Aviation PLC

2 March 2010

December December

US$ US$

From Continuing operations
Revenue 7,843,164 8,227,517
Cost of sales -
-
Gross profit 7,843,164 8,227,517
Other operating income 301,654

Administrative expenses (483,654) (529,527)
Other operating expenses (3,137,658) (2,850,651)
Finance expense (2,196,325) (2,608,937)
Profit before tax 2,025,567 2,540,056
Income tax expense (208,725) (334,386)
Profit for the period 1,816,842 2,205,670

Other comprehensive income
Revaluation of property plant (3,864)
and equipment -
Other comprehensive income for (3,864)
the period -
Total comprehensive income for 1,816,842 2,201,806

the period

Profit attributable to:
Ordinary equity shareholders 1,816,842 2,205,670

of the parent

Total comprehensive income attributable to :
Ordinary equity shareholders 1,816,842 2,201,806

of the parent

Earnings per share US Cents US Cents
Basic 2.26
1.86
Diluted 2.14
1.86

Reclassification of Comparative figures Certain reclassifications have been made to the prior period financial statements to enhance comparability with the current period financial statements.
Adjustment
Dr / (Cr)
US$
Other operating expenses 271,972

(Maintenance claim expenses)
Finance expense (Loan fees) 197,758
Administrative expense (469,730)

December December

US$ US$

Current assets:
Cash and cash equivalents 1,723,472 1,883,906
Trade and other receivables 155,198 780,944
Total current assets 1,878,670 2,664,850

Non-current assets:
Plant and equipment 103,792,792 108,904,401
Total non-current assets 103,792,792 108,904,401
Total assets 105,671,462 111,569,251

Current liabilities :
Trade and other payables 4,734,102 4,864,970
Loans and borrowings 9,228,531 9,540,591
Short term provisions 910,626 491,972
Provision for income tax 413,981 489,904
Total current liabilities 15,287,240 15,387,437

Non-current liabilities:
Loan and borrowings 50,861,341 59,983,359
Deferred tax liabilities 1,965,035 1,619,367
Total non-current liabilities 52,826,376 61,602,726

Capital and reserves:
Share capital 196,394 196,243
Share premium 21,696,406 21,660,294
Reserves 9,080,831 9,080,831
Retained earnings 6,584,215 3,641,720
Total equity 37,557,846 34,579,088
Total liabilities and equity 105,671,462 111,569,251

Reclassification of Comparative figures Certain reclassifications have been made to the prior period financial statements to enhance comparability with the current period financial statements.
Adjustment
Dr / (Cr)
US$
Loans and borrowings - current (1,083,827)
Loans and borrowings - non 1,083,827

current

December December

US$ US$

Cash flow from operating activities:
Profit before tax 2,025,567 2,540,056

Adjustments for :

Depreciation 2,537,242 2,578,679
Claims on maintenance reserves 445,164 271,972
Interest expense 2,018,356 2,411,179
Interest income (40) (9,890)
Operating profit before working 7,026,289 7,791,996

capital changes

Trade and other receivables 896,901 (628,501)
Trade and other payables 24,224 264,564
Short term provisions (785,399) -
Cash from operations 7,162,015 7,428,059

Interest paid (2,018,356) (2,411,179)
Income tax paid (56,612) (188,699)
Net cash flows from operating 5,087,047 4,828,181

activities Cash flows from investing activities:

Interest received 40 9,890
Purchase of plant and equipment 0 (22,086)
Net cash from (used in) investing 40 (12,196)

activities Cash flows from financing activities:

Proceeds from issuing of new 36,263 -

shares, net of expenses

Repayment of borrowings (4,821,110) (4,037,902)
Net cash used in financing (4,784,847) (4,037,902)

activities
Net increase in cash flow 302,240 778,083
Cash and cash equivalent at 1,421,232 1,105,823

beginning of period
Cash and cash equivalent at end of 1,723,472 1,883,906

period

Approved by the board of Capital Lease Aviation PLC on the 2nd of March 2010.

The above financial information has been extracted from the management accounts and has not been audited.

These interim statements have been prepared on a basis consistent with International Financial Reporting Standards (IFRS) except that IAS34 "Interim Financial Reporting", which is not mandatory for AIM companies, has not been adopted in the preparation of this statement.

This information is provided by RNS The company news service from the London Stock Exchange

IR MMGGFGZMGGZM

RNS Number : 8160E Capital Lease Aviation PLC 30 December 2009

Capital Lease Aviation Plc

("CLA" or "the Company")

Total Voting Rights

For the purposes of the Disclosure and Transparency Rules of The Financial Services Authority, the Board of CLA is required to notify the market of the following:

As at the date of this announcement, the Company's issued share capital (excluding treasury shares) consists of 97,899,172 ordinary shares, with one voting right per share. The Company has no ordinary shares in Treasury.

The above figure of 97,899,172 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

--ENDS-

Enquiries:

Capital Lease Aviation Plc 07783 942 553

Jeff Chatfield, Executive Chairman

Nominated Adviser
James Joyce/David Porter, W H Ireland Limited 0207 220 1666

Company Stockbroker

W H Ireland Limited 0207 220 1690

Share Register

Computershare Investor Services Plc 0870 702 0003

Website www.capitalleaseaviation.com

This information is provided by RNS The company news service from the London Stock Exchange

TVREAEAEDAFNFFE

RNS Number : 6423D Capital Lease Aviation PLC 04 December 2009

Capital Lease Aviation PLC by RNS

4 December 2009

Capital Lease Aviation Plc

('CLA')

Result of AGM

CLA is pleased to announce that, with the exception of Resolution 5, (Authority to grant warrants and allot shares pursuant to the exercise of warrants) all resolutions proposed to shareholders at the Company's Annual General Meeting held earlier today were duly passed.

Enquiries:

CAPITAL LEASE AVIATION PLC

Jeff Chatfield, Chairman 07783 942 553

STOCKBROKERS

WH Ireland Limited 020 7220 1690

NOMINATED ADVISER

James Joyce, David Porter

WH Ireland Limited 020 7220 1666

Website http://www.capitalleaseaviation.com/

This information is provided by RNS The company news service from the London Stock Exchange

RAGFSDFMLSUSEIE

RNS Number : 6421D Capital Lease Aviation PLC 04 December 2009

Capital Lease Aviation PLC, by RNS

4 December 2009

Capital Lease Aviation Plc

("CLA" or "the Company")

Directors' Dealings and Issue of Equity

The Company announces that today it has issued and allotted a total of 88,333 new Ordinary Shares to the following persons pursuant to the exercise of warrants:

Number of new ordinary shares
Epsom Assets Limited 20,000
Olivier Garrigue 20,833
Peter Freeman 20,000
Richard Sinclair 7,500

Loeb Aron & Company Ltd. 20,000

Epsom Assets Limited is a company controlled by Mr Jeff Chatfield. Jeff Chatfield, Richard Sinclair, Olivier Garrigue and Peter Freeman are all directors of the Company. Furthermore, Mr Freeman is a Director of Loeb Aron & Company Ltd.

The exercise price of the warrants is 24 pence per share.

The Company's total issued share capital is now 97,899,172 Ordinary Shares.

Application will be made today to admit the new ordinary shares to trading on AIM.

Enquiries:

Jeff Chatfield, Chairman 07783 942 553

WH Ireland Limited 020 7220 1690

James Joyce, David Porter WH Ireland Limited

Website http://www.capitalleaseaviation.com/

This information is provided by RNS The company news service from the London Stock Exchange

MSCEAKALESANFFE