Air Partner is one of the few jet card sellers that is publicly traded. Its 10-hour cards start at $47,000.
Mark Briffa, the long-serving CEO of Air Partner plc, sold 179,935 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of GBX 132 ($1.74), for a total transaction of £237,514.20 ($313,425.97).
According to a report in Week Herald, Air Partner plc (LON:AIR) traded up 2.10% during mid-day trading on Friday, reaching GBX 127.50. 17,872 shares of the company were exchanged. The firm’s 50-day moving average is GBX 130.33 and its 200-day moving average is GBX 122.70. The firm’s market cap is GBX 67.18 million. Air Partner plc has a one year low of GBX 83.20 and a one year high of GBX 144.50.
The firm also recently declared a dividend, which was paid on Friday, October 27th. Shareholders of record on Thursday, October 5th were issued a dividend of GBX 1.70 ($0.02) per share. This represents a yield of 1.3%. The ex-dividend date of this dividend was Thursday, October 5th.
Air Partner, which dates to 1961, focuses on a number of segments within business aviation, including air charter, specialist travel management, crisis and emergency planning, aircraft remarketing, aviation safety consultancy and jet cards.
Separately, according to the report, Liberum Capital reaffirmed its “buy” rating and set a GBX 140 ($1.85) price target on shares of Air Partner plc in a report on Friday, August 25th.
In the past, Briffa has been criticized by analysts for saying he believes private aviation services will be driven by personal services instead of apps and other booking technology. Its jet card program recently won an award for its flexibility, which includes full refundability, guaranteed availability, guaranteed pricing and discounts for roundtrip travel. Air Partner jet membership cards start at 10 hours and $47,000.
Air Partner contacted Private Jet Card Comparisons to add the below statement:
“We’re hoping to clarify the reason behind Briffa’s decision to sell. Briffa sold sufficient shares to cover the option cost and any other costs associated with the service and transferred the 45,065 ordinary shares retained to his wife. As a result, Briffa’s total interest in the company – including his wife’s holding – has a net increase.”