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Prices & Quotes - UK Markets - Signature Aviation (SIG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 396.60p
Change Today:
1.00p
Market Cap:
3,290.35m
Sector:
Industrial Transportation

Signature Aviation profits fall as Covid hits air travel

By Frank Prenesti

Date: Tuesday 02 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Private jet servicing company Signature Aviation said underlying annual profits fell by two thirds as the Covid-19 pandemic hit air travel, although its US business was showing signs of recovery at the start of 2021.
The company, which is set to be taken over by a consortium of private equity funds, said underlying pre-tax profit fell 60.8% to $114.2m. On a statutory basis Signature swung to a $17.1m loss from a profit of 722m a year ago.

"Our US Business and General Aviation markets have recovered strongly from the low point of 77% down in April 2020. January 2021 flight activity recovered to be 12.5% down year on year, and February was down 17%," the company said on Tuesday.

"We are encouraged by the extent of the flight operations recovery we have seen since spring 2020 however, the outlook remains uncertain and the recovery of activity in our North East region, through both business and international travel, will be essential to deliver progress."

The company said it was unlikely to receive extra US government financial help or further rent rebates from airports in 2021, both of which benefited 2020.

Signature, formerly known as BBA aviation, last year became the subject of a bidding dogfight as the private jet industry benefited from wealthy travellers avoiding crowded commercial aircraft during the pandemic.

The company, which provides full-service flight support and non-fuel services, eventually accepted a joint offer from former Gatwick airport owner GIP, Blackstone Group and Bill Gates' investment vehicle Cascade valuing it at $4.73bn.

Buyout firm Carlyle pulled out of the bidding war after its StandardAero unit bought Signature's engine repairs business for $230m.

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SIG Market Data

Currency UK Pounds
Price 396.60p
Change Today 1.00p
52 Week High 435.50p
52 Week Low 185.35p
Volume 884,549
Shares Issued 829.64m
Market Cap 3,290.35m
Beta 0.03

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What The Brokers Say

Strong Buy 0
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 3
neutral
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SIG Dividends

  Latest Previous
  Special Interim
Ex-Div 25-Nov-19 12-Sep-19
Paid 13-Dec-19 01-Nov-19
Amount 80.71¢ 4.20¢

Trades for 12-May-2021

Time Volume / Share Price
16:45 524 @ 396.40p
16:45 524 @ 396.40p
16:35 319,812 @ 396.60p
16:29 84 @ 396.60p
16:29 6 @ 396.40p

SIG Key Personnel

Chair Nigel Rudd