Investors looking for a high flier capable of cashing in on the rising fortunes of the global aviation market, while sidestepping some of the risks of buying into an airline, should climb aboard aircraft lease specialist Avation (AVAP).

Air traffic has doubled every 15 years since the early 70s, according to the International Civil Aviation Organisation (ICAO). And it is set to continue at this pace into the 2030s, forecasts Airbus’ 2013 Global Market industry trends report. This should provide Avation with some compelling tailwinds going forward.

The growth of the aircraft leasing sector, since the turn of the century in particular, has been impressive and global aviation data specialist Ascend estimates that in 2011, the number of aircraft leased as an expression of the global aircraft fleet grew by 114%. Boeing market forecasts maintain the number of leased aircraft should increase by 124% in 2030.

Looking to leverage these trends is an experienced and ambitious management team focused on diversified organic growth with plans to more than double Avation’s fleet from its current 24 with firm orders for a further 12 aircraft and options on another 27 to be delivered by the end of 2015.

Broker Cenkos maintains that ‘on every metric the Group trades at a discount to peers. It currently trades at a discount to NAV of over 10% and on 5.9 times EV/EBITDA compared to 9.3 times for the wider sector.’

Favourable market conditions, savvy management and a strong balance sheet give Avation an edge.