AIR Partner Share Discussion Threads

[amitkoth] 27/8/2011 11:25

It's worth pointing out this statement in the half year results:

"Part of the work of re-establishing a firm basis for future growth involves a review of financial systems and processes. Recent attention has focused on current liabilities, which contain an accrual for expenses of £3.1 million. These expenses are amounts that Air Partner has invoiced and accrued for, over a number of years, relating to charter contracts, in anticipation of receiving matching invoices from operators which have not in fact been received. A review of this balance indicates that it should no longer be retained. Contact has therefore been made with the relevant third parties and Air Partner is investigating, with those parties, the closing out of this accrual. The Board does not expect any material impact on profit although there will be an anticipated £3.1 million cash outflow in the second half of this financial year."

Later, this statement:

"The Group cash position is currently £11.5 million (at 1 June 2011). As detailed at the half year results, provision has been made for the closing out of a historic accrual before the year end. While this exercise has not yet been completed, no impact on profit is anticipated and resolution of this issue will not affect continuing business, or the Group's investment plans. Air Partner remains debt-free, providing the financial headroom and flexibility to continue to invest over the coming year in building market share and extending Air Partner's global presence."

Quite recently in the US side:

"At this early stage, the Company estimates the financial liability is likely to be in the region of £1 million. A provision for this liability will be made in the current financial year. Procedures within the Company have now been changed on the instructions of the current management team to ensure no further liabilities are created."

These things do not inspire confidence, despite the pedigree. Although I have owned stock in the company and have watched for many years, and will continue to do so. All imo. DYOR.

[davydoo] 24/8/2011 07:51

Ive been looking at these, and agree amitkoth, more predictable businesses out there. Ive gone for BMS, shipbroking instead of private jet broking. Will keep a watch on these though.

[amitkoth] 24/8/2011 07:31

Hmmm, not confident on the outlook for these. From the last statement:

"Within the Private Jet broking division pricing remains weak and margins are expected to remain under pressure during the current year. However, looking ahead, the Company is entering the traditionally busier summer period and there are some early signs of improvement in the financial sector, although it is still too early to assess the potential impact from these. The Group has also recruited experienced private jet brokers to help grow existing products into newer territories, such as Eastern Europe and is strengthening the sales team in the UK and in Monaco."

The financial sector has been hammered. Lots of bankers laid off in Europe already, and with more belt-tightening - perhaps flights will be hit. imo. Given banks' capital reserve requirements, this won't resolve for many years.

Like someone else above, also concerned with how richly the sales people are compensated, a bit opaque down there!

Good company, but plenty of bargains out there imo. in more predictable and less cyclical businesses.

[pvb] 23/8/2011 12:08

shuisky - 22 Jul'11 - 09:54 - 253 of 254

I don't hold here but must confess that looking through the posts on here and the price action, it appears that there has been some insider trading going on.

How so?

[shuisky] 22/7/2011 10:06

Keep an eye on directors pay too. Aubrey Adams is the chairman and, as I seem to recall he was at Saviles when the management awarded themselves a bucket of cash before the market turned down in 2008.

[shuisky] 22/7/2011 09:54

I don't hold here but must confess that looking through the posts on here and the price action, it appears that there has been some insider trading going on. Am not sure if I feel comfortable in trading stock against people who are better informed than me!

[sleepy] 20/7/2011 18:48

44 shares traded at 350

[ricky46] 20/7/2011 18:09

Yes I agree that was some major treeshake today, came up on my radar this morning, think somebody wants some shares.

[robinnicolson] 20/7/2011 17:30

'What do they know that we don't'...

Yes, interesting price action this month prior to the announcement about the potential tax liability...

Someone managed to grab some at 350p during the sharp mark down early this morning.

[lbo] 20/7/2011 10:50

Air Partner faces tax liability of £1m

[haroldthegreat] 11/7/2011 08:39

what do they know that we dont

[dugganjoe] 10/7/2011 16:21

more sellers than buyers

[haroldthegreat] 10/7/2011 13:32

price has nose dived why?

[sleepy] 15/6/2011 20:31

LBO - thanks for the links. What is your view on the share price here?

[broadwood] 17/5/2011 12:05

Queen arrives in Ireland on a charter organised by AIP - the official carrier to H.M.

[lbo] 02/4/2011 11:59

Rising fuel prices squeeze charter operators, FBOs

[sco77harris] 25/2/2011 13:27

what did they say

[robinnicolson] 24/2/2011 19:06

Air Partner just mentioned on Channel 4 news...

[tsigoloroh] 18/12/2010 22:09

Gatwick Airport reopens but flights still cancelled

Passengers have been urged to check with airlines before travelling to Gatwick Airport
Gatwick Airport has reopened after it was forced to close its runway for several hours following heavy snowfall, but some flights are still cancelled.

It reopened at 1445 GMT after a 140-strong team swept 4in (10cm) of snow and ice from the runway, as well as taxiways and stands.

But it said all Easyjet and Aer Lingus flights, as well as BA flights, would be grounded for the rest of the day.