In short, ChrisB’s quick take above seems to sum things up pretty well.

The share price is now 34p down from 102p some 16 months ago.

The market cap is just £14m and only around 20,000 shares have been traded over the past three weeks, in four separate trades. It’s massively illiquid therefore and the bid-offer spread reflects that: it’s 25p-43p!

The shares were 64p prior to the Covid declines in February, then fell another 50% over the course of the following month and have been essentially flat since then – so haven’t bounced back like pretty much everything else.

The four other aircraft leasing funds have seen similar declines and are down some 60% over the last year.

The net asset value for this particular trust is 118p but that was as of Sep 2019 and will likely be slashed when the next set of results is released, probably sometime in July.

It has continued to pay out quarterly dividends of 2.25p so the historical yield is theoretically 26.5%. The lease runs to December 2022, so that suggests 10 more quarterly payouts could be due but who knows how things will pan out.

Scary, scary stuff.