|CITY AM paper today 11 Oct 16. Magnus Aviation a private jet charter business has seen increase in bookings due to increased security concerns.|
|A busy summer of flying is music to Air Partner’s ears - HTTP://www.airpartner.com/en/press-releases/a-busy-summer-of-flying-is-music-to-air-partners-ears/|
|Spread on this is ridiculous|
|The rise in the share price is only really a bonus if you are selling... and the initial spike this morning now appears to be being sold into. Will be interesting to see how it goes once the dust has settled.|
|Some impressive performances in these figures such as Private Jets profit up 56% with JetCard utilisation up 25%.|
|An 11% rise on the open - sometimes the illiquidity here can be seen as a bonus ! :-)|
|Great set of interim results with an increased dividend the cherry on the cake !|
|Interim Results - HTTP://www.investegate.co.uk/air-partner-plc--air-/rns/interim-results-for-the-six-months-to-31-july-2016/201609290700091424L/
· Gross profit of £16.1m, a year-on-year increase of 34%, reflecting strong trading performance and contribution from Baines Simmons
· Underlying PBT of £3.0m, a year-on-year increase of 35% with Broking and Consulting performing well
o Commercial Jets delivered underlying operating profit growth of 18%
o Private Jets achieved record H1 results
o Consulting division integrated and contributed underlying profit of £0.3m
· Underlying EPS of 22.3p, a year-on-year increase of 30%
· Net cash inflow from operating activities of £5.1m, compared to outflow of £1.2m in prior period
· Net cash (non-JetCard cash less debt), of £5.2m compared to net debt of £0.5m at year end
· Interim dividend increased 10% to 8.06p per share payable on 28 October 2016
As previously announced, the Board has determined that to pursue our acquisition strategy as well as invest in the future organic growth of the Group, the Company should continue to pay a progressive dividend while at the same time aiming to build cover to between 1.5 and 2.0 times underlying EPS.
Accordingly, the Board has proposed an interim dividend of 8.06p, a year-on-year increase of 10%. The interim dividend is expected to be paid on 28 October 2016 to those shareholders registered at close of business on 7 October 2016.|
|September Air Travel is So Slow One Carrier Shut Down For a Day
|I wonder what sort of value this contract represents. Certainly it provides evidence of the status Baines Simmons in the aviation world. A shrewd acquisition methinks.|
|Baines Simmons Wins BAE Systems Consultancy Contract - HTTP://www.airpartner.com/en/press-releases/baines-simmons-wins-bae-systems-consultancy-contract/
Air Partner's aviation safety consultancy division Baines Simmons has been awarded a contract to provide Integrated Operational Support (IOS) consultancy services to BAE Systems (the "Company"), with a specific focus on Typhoon aircraft.
As a result of the continuous drive for air forces to increase the efficiency of their fleets, there is a growing demand for IOS programmes. The programmes integrate numerous support services, improving safety performance and continuing airworthiness. This ultimately increases efficiencies and improves aircraft availability.
As part of its new contract, which became effective on 5 September 2016, Baines Simmons will support BAE Systems' strategic aim to become the leading global IOS provider by 2021. This will enable BAE Systems to reduce costs for customers, improve efficiencies and improve aircraft availability.
BAE Systems recently announced a 10-year arrangement with the Ministry of Defence (MOD) to support the UK Typhoon fleet, working with the Royal Air Force (RAF).
Commenting on the contract, Justin Scarborough, Managing Director of Baines Simmons, said: "It is testament to the experience and expertise of the Baines Simmons team to have been chosen to consult on such an important initiative for one of the world's leading defence contractors. A world-leading IOS system should place the customer first in all decision-making activity, and we are very much looking forward to supporting BAE Systems on making the necessary cultural and organisationalstep-changes to make this goal a reality."
Martin Blaze, Director of Aircraft Maintenance at BAE Systems, said: "At BAE Systems, our customers are our first priority and we are committed to reducing costs and maximising efficiency wherever possible. This project will be a strategic focus for us going forward and we are confident that the Baines Simmons team are the right people to guide us on the journey to becoming a world leading global IOS provider."|
|Lufthansa, Air China Sign Agreement for China-Europe Routes
|Norwegian Air, JetBlue, TAP plan single-aisle long-haul routes
|Nguyen Thi Thuy Binh, vice president at VietJet, discusses the company's growth ambitions, their IPO plans and what sets them apart from other airlines. She speaks to Bloomberg's Anna Edwards and Angie Lau on "Bloomberg Markets." (Source: Bloomberg)
|Singapore Airlines has decided not to keep the first A380 it leased, delivering a fresh setback for Airbus' super-jumbo plane.
|I see GAMA Aviation a similar AIM listed business is now trading well below a pe of 10 after they went on a acquisition spree also.|
|He also mentioned that James Fisher also made some costly mistakes during these acquisitions. As he says Air Partner desperately need to try and buy earnings stability away from the plane chartering which business can fall away overnight as has been seen in the past. The question as eluded to in the iii article is what costly mistakes will Air Partner make?"This vision may excite investors, and acquisitions may increase profit, helping trigger targets in chief executive Mark Briffa's substantial bonus and incentive schemes.The long-term picture is clouded though. The possibility of new competition from online brokers makes me wonder whether the company is being driven to diversify by the prospect of lower profitability in broking.The acquisition of Baines Simmons, which cost more than Air Partner made in profit in the year to January 2016, could be the first of many. It remains to be seen how judicious the company is when buying companies, and whether the resulting combination adds up to more than the sum of its parts"|
|John Lee in the FT commented on AIR in the FT over the weekend. Likened AIR to James Fisher with regards to the company growing via acquisition and saw a positive future.|
|Thanks speedsgh. Interesting article.
"Long-term picture is clouded
This vision may excite investors, and acquisitions may increase profit, helping trigger targets in chief executive Mark Briffa's substantial bonus and incentive schemes.
The long-term picture is clouded though. The possibility of new competition from online brokers makes me wonder whether the company is being driven to diversify by the prospect of lower profitability in broking.
The acquisition of Baines Simmons, which cost more than Air Partner made in profit in the year to January 2016, could be the first of many. It remains to be seen how judicious the company is when buying companies, and whether the resulting combination adds up to more than the sum of its parts"|
|See link below to article which comments on the possibility of new competition from online brokers...
speedsgh - 13 Jun '16 - 12:14 - 84 of 105 1 0 Edit
Why I'm a sucker for specialists - HTTP://tinyurl.com/hfubuj9|
|There does seem to be a lot of competition in this business these days.|
|Yes but this model makes brokers like Air Partners Private Jet model and their old way of booking jets obsolete! And at the very least it will still undercut the margins at Air Partners Private Jet business with these new entries into the market
Here is another:
|Nice find. It could be disruptive but a positive spin is that it could also be a boost for what they do. It suggests that more and more frequent flyers are attracted to a more bespoke service with less time spent hanging around airports with the hoi pollio spending money , getting tired and worn out etc ....
|With the private plane division accounting for about a third of the Air Partner group then this could be quite disruptive
|Air Partner expands New York office - HTTP://www.airpartner.com/en/press-releases/air-partner-expands-new-york-office/
Air Partner expands New York office as it strengthens its US offering Air Partner, the global aviation services group, is growing its New York office to support its continued expansion in the US market, with particular emphasis on New York City and the surrounding area.
The Group believes that there is strong demand in the area for its product offering – particularly its JetCard product - as well as its exceptional client service. This new office, located at 140 Broadway in Lower Manhattan, strengthens its existing US network which includes Fort Lauderdale, Los Angeles, and Washington D.C.
Air Partner provides private air travel solutions, specialist travel management, emergency planning, aircraft remarketing and aviation safety consultancy. The company’s air charter divisions include Private Jets, Commercial Jets, and Freight. The Private Jets division offers both on-demand charter services and a flexible JetCard membership, while the Commercial Jets division arranges air charter flights for groups of 20 or more passengers. Air Partner Freight specializes in arranging the transport of air cargo of any size, worldwide.
Commenting on the expansion, Mark Briffa, CEO of Air Partner, said: “The US has long been an important market for Air Partner, and one which continues to be an area of strategic focus. We have been an established business there for 19 years now, but there are still opportunities that we can capitalize on. North America is the biggest private jet market in the world and we are committed to taking more of this share. For the third consecutive year, independent aviation consultant Conklin & de Decker's found that our JetCard continues to surpass all our major US competitors in terms of both cost and flexibility, so we have a solid foundation on which to grow our customer base. The expansion of our New York office is a really exciting development for us, and I can’t wait to see how our American journey progresses.”|