Air Partner PLC has opened a West Coast sales office as it looks to grow revenues from its jet card membership program
Air Partner said it opened a new office in Los Angeles last week “in line with its strategy to grow its geographical footprint.” The office will service southern California and the broader West Coast markets, strengthening Air Partner’s existing US network, which includes sales offices in New York, Fort Lauderdale and Washington D.C.
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%.