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.
U.S. private jet charters are holding up better than Europe
Air Partner says cargo and repatriation charters are helping offset drops in private jet charter and jet card revenues
Private jet charter, jet card broker and aviation services provider Air Partner provided an update on trading this morning. It covers its new financial year which began February 1, 2020.
The private jet charter broker and jet card provider provided a wide view of its varied business units
Private jet charter and jet card broker Air Partner, which
offers extensive aviation services beyond private flying, updated shareholders earlier
today on its approach to the Coronavirus COVID-19 pandemic, including protective
actions being taken, current sales and pipeline.
Jet card broker Air Partner has been promoting luxury travel experiences via partnerships
Air Partner said it has partnered with The Modern Concierge to offer personalized 3, 4, 5 and 7-day wellness getaways for its JetCard jet card members. It follows similar partnerships with Quintessentially Travel and Camper & Nicholson covering luxury travel and yacht charters.
The broker jet card provider has joined the end of year promotional train
Air Partner has joined the end of the year fray of jet card deals and offers, and also set last-minute New Year’s Eve pricing and customizable itineraries, according to a press release received by Private Jet Card Comparisons.
There’s a lot to like about Air Partner’s jet card program, but don’t tell your friends
Jet cards are in a bull market for several reasons in our opinion. They are the easy way to charter. Once you find the right card program (which is what we help you do) getting airborne is literally one call away. In many ways, jet cards are really the Uber of private aviation. You already know all the various policies – what’s included, what’s not. You know the standards for sourcing aircraft and the minimum requirements for the pilots who will fly you. Jet cards also don’t require the three to five-year commitment that fractional ownership entails, and once you figured out which program is a fit, it’s a relatively easy transaction compared to the consultants and multiple contracts buying a share entails. That’s why many jet card providers rightfully have lofty goals for growth. Air Partner is not one of them.