Air Partner announces first-half results

Air Partner

Gross profit of £17.2 million was “stronger than levels anticipated at the time of AGM”

U.K.-based charter and jet card broker Air Partner said its gross profit was £17.2  million for the first half of its financial year, which ended in July. It said the results are “in line with prior period and stronger than levels anticipated at the time of AGM.”

Air Partner sells jet cards with fixed hourly rates that cover Europe, and North America, including the Caribbean and Mexico. During the summer, it introduced one-way transatlantic fixed rates starting with just a 10-hour commitment.

Air Partner provides a mid-year update

The U.K. publicly traded aviation provider says results have been “slightly stronger than anticipated”

Air Partner plc, said despite what it described as a challenging operating environment across the global aviation industry, “Air Partner’s first-half performance has been slightly stronger than expected.” The statement covered the six months ending July 31, 2019.

Air Partner gets buy rating from Liberum Capital

Air Partner

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 Thursday.

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.

Air Partner expects pre-tax profit of at least £5.8m ($7.6 million)

Air Partner JetCard pricing

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 first-half results dip despite “strong” U.S. jet card sales

private jet charter broker

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.

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