Added to YB: 2023-08-27
Pitch date: 2023-08-23
DPA.L [neutral]
DP Aircraft I Limited
Author Info
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Company Info
DP Aircraft I Limited, through its subsidiaries, acquires, leases, and sells aircraft in Guernsey and internationally.
Market Cap
$39.7M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
15.25
P/E
9.74
EV/Sales
13.13
Sector
Trading Companies and Distributors
Category
value
DP Aircraft Limited - Asset-Play
DPA.L (pass): Owns 2 Boeing 787-8s valued at $80-110M used vs $12.6M mkt cap, but carries $98M debt ($62.4M + $35.5M due Dec 2026). Sole customer Thai Airways restructuring post-bankruptcy, paying $510K/mo/plane (30-50% below market) till 2026 with 3yr extension option. $11.4M/yr lease pays down $34M debt by 2026, leaving $64M to refinance/repay via asset sale. Risk: aircraft valuation uncertainty ($30-60M half-life per plane), Thai credit risk, 2026 debt maturity. Upside if planes sell $120M = 370% gain; downside if $60M = total loss. Too speculative without clear margin of safety.
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