The diversified aviation services provider is targeting newcomers and NetJets leavers with new jet card offerings in Europe
Air Partner, which offers jet cards both in the U.S. and Europe, has launched two new private jet membership programs in Europe. One is targeted at new to private aviation flyers. The other, which debuted earlier this year, is designed to counter private jet leader NetJets.
Group charters and freight helped U.K.-based broker and aviation services company Air Partner boost pre-tax earnings by 250% in the first six months of its financial year
– Jet Card sales increase by 50%; U.S. private jet charter outlook positive
U.K.-based Air Partner has ridden a COVID-19 boom in group charters and freight to record profits for the first half of its financial year, according to unaudited results released ahead of the trading day this morning in London.
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%.
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.
When it comes to rules, for Air Partner, jet cards are meant to be customized
Private jet travel is just 18% of Air Partner’s diversified business, which includes large group charter, cargo, and aviation safety-related consulting
Air Partner recently completed a complex Coronavirus emergency evacuation flight from Japan to the U.K.
U.K.-based Air Partner has long had one of the better jet
card programs, or as it calls it, JetCard. That’s based on the published rules.
But, that’s not where it ends.
But before we look at what’s off the menu, let’s quickly recap its North America-based program as is.
A flexible jet card
The starting point to buy is just 10 hours, compared to 25
hours for many providers.
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
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.