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.