Air Partner reports full year trading update

Lauren Eldershaw
By Lauren Eldershaw February 26, 2019 16:13

Air Partner reports full year trading update

In trading update for the year ended 31 January 2019, Air Partner, the global aviation services group, reports that its charter division has performed well during the year, specifically “strong performance in freight and commercial jets, and a flat performance in private jets, albeit with JetCard reporting a double-digit increase in customer numbers”.

Air Partner’s consulting & training division is reported to have maintained a strong pipeline and product offering through the year, winning a number of new contracts in training, consulting, fatigue risk management and wildlife hazard management, which will further support the growth of this division in the years ahead.

The Air Partner Board expects to announce underlying profit before tax of not less than £5.8m for the 12 months to 31 January 2019. “This performance comes despite the challenges faced in the first half of the year, and the prioritised investment to address issues arising from the previously announced accounting review, with the strengthening of the finance function being the most tangible example of this.”

Air Partner states that it continues to assess investment opportunities, both organic and acquisition, to enhance or extend the service and capabilities its offers in order to strengthen the business.

Mark Briffa, CEO commented: “This is a robust performance for the 12 months ended 31 January 2019 despite the challenges we faced in the early part of the year with the accounting review. I would like to express my sincerest thanks to our customers for their continued support and the business they entrust us with, and to my colleagues for their unwavering focus and dedication to customer service.

Our shareholders would expect me to be no more than quietly confident at the start of a new year, and this year is no different.  Aviation can be both challenging and exciting, but we have never been more aligned to our customers in our near 60 year history than today, and our clear long-term strategy is delivering results and opportunities.  We have withstood an unwelcome and costly event, but have now started the new financial year with an exciting strategic outlook and growth plans to take the Group forward.”

Lauren Eldershaw
By Lauren Eldershaw February 26, 2019 16:13