The diversified private jet broker and aviation services company had been providing monthly updates since the beginning of the COVID-19 pandemic
U.K.-based private jet charter and jet card broker Air Partner will return to a normalized reporting schedule following its annual meeting, scheduled to be held later today.
Since the start of the COVID-19 Coronavirus pandemic, the group has been providing monthly updates on its varied businesses.
The U.K.-based company sells on-demand charter and jet cards in the U.S. and Europe
Publicly traded Air Partner, which sells on-demand charters and jet cards in Europe and the U.S., has provided another update on its business.
It turns out, the strong results are continuing.
In its fourth COVID-19 Coronavirus update, the publicly traded private jet charter and jet card broker said strong cargo and corporate shuttle business is putting it ahead of targets
Strong group and cargo charter business in May following record trading in April has pushed Air Charter PLC to an underlying profit before tax of £7.5 million for the first four months of its financial year. The company described the results as “well ahead” of budget.
Full-year gross profit fell 3.7% to £34.2m for the global aviation services group
Global aviation services provider Air Partner said its full-year sales and profits declined for the period ending Jan. 31, 2020.
Gross profit was down 3.7% to £34.2 million compared to £35.5 million for the previous year. On a like for like basis, adjusting for constant exchange and acquisitions, profits declined 5.3%.
“Very weak” private jet charters expected to see “some improvement” in the second quarter
U.K.-based Air Partner offered its third COVID-19 Coronavirus update this morning with news of a £6m profit before tax covering February, March, and April, its fiscal first quarter.
On the news, its stock (LON: AIR) was trading at GBX 49.40 midday in London, down from its 52-week high GBX 102.90, but up considerably from a low last month of just GBX 15.33.