The publicly traded U.K. company sells jet cards and
on-demand charter with fixed rate programs in both the U.S. and Europe
Stock analyst Liberum Capital restated its buy rating on
shares of Air Partner (LON:AIR) in a research note published last Thursday,
according to several reports.
Shares of Air Partner stock opened at GBX 89.40 ($1.17) on
Air Partner has a 12 month low of GBX 71.40 ($0.93) and a 12
month high of GBX 129 ($1.69). The stock has a market cap of $46.39 million and
a P/E ratio of 17.19. The company has a debt-to-equity ratio of 21.28, a
current ratio of 1.06 and a quick ratio of 0.80, according to Liberum.
JetCard customers increased by double digits while overall
private jet charter was flat
Global aviation services group Air Partner today provided a trading update for the year ended 31 January 2019. The company said its Charter division “performed well” with “strong performance in Freight and Commercial Jets.” Its private jet charter performance was flat although its JetCard jet card customer count grew by double digits.
Air Partner Plc, the global aviation services group, today reported results for the six months to 31 July 2018
In what Air Partner CEO Mark Briffa described as a “solid first half performance” the publicly traded seller of aviation services, including on-demand charter and jet cards said it earned a gross profit of £18.0 million, six-tenths of a percent below the same period in 2017. Underlying profit before tax of £4.2m, was a year-on-year increase of 2.4% while statutory profit before tax of £2.6m was £1.1m lower than the previous year driven by the associated costs of the company’s accounting review concluded earlier this year. In August, the company had offered its latest update.
What started as a difficult year with accounting questions is turning into a stellar year for U.K.-based Air Partner, helped by its U.S. jet card business
Yesterday, Air Partner plc released a trading update for the six months ended 31 July 2018. It is in advance of a detailed report that will be provided with the interim results, which will be released on 27 September 2018. The Group enters its close period on 28 August 2018. The report is a positive viewpoint, following a recent buy rating, and particularly considering the difficult news over accounting woes from earlier this year. Below is the statement from Mark Briffa, the CEO:
Shares of the U.K.-based private jet charter and jet card broker had been suspended last month after a prolonged review of its financial statements
In what might be a sigh of relief for the private jet charter industry, Air Partner PLC announced today it had completed a review of its past financial statements and reported results for its year that ended January 31, 2018. While the company had said its business was solid, following the Chapter 7 bankruptcy of Zetta Jet and ImagineAir ceasing operations, Air Partner’s announcement on May 31 that it would cease trading in its shares until accounts were sorted caused unease. Today the company reported £261.3 million gross transaction value, the amount it invoiced to customers with a £36.1 million gross profit and £5.8 million underlying profit before tax. It reported having £4.8 million in cash excluding deposits for jet cards, the money you pay in advance and is held before your flights. It also said its Net Promoter Score rose from 75% to 79%.