Air Partner Share Discussion Threads

[masurenguy] 15/10/2015 15:13

Can't see any reason for the drop today. No news since the positive interims were released 3 weeks ago but the shareprice has drifted down from 428p since the. The spread is too large - they need to expand the number of shares in issue by a 4 to 1 conversion which would create better liquidity and also reprice the shares at circa 100p - 110p.

[pvb] 24/9/2015 16:27

Half year results:

[topvest] 24/9/2015 10:33

Results and dividend increase are pretty positive. Happy to hold.

[speedsgh] 24/9/2015 09:15

The following is a very interesting read...

Bluesky interview -

Stand-out points...

Are you looking at any other acquisitions? If so, what kind of businesses?
- We always look at opportunities which will add value to our business and are a good use of our capital, as is our duty to our shareholders. We would never comment on specific targets but we are always interested in companies whose products, services and capabilities can enhance our overall customer proposition and, at the right price and at the right time, we would consider them. However, a lot has happened in the past six months and we need to ensure that we are on the right path to capture and develop the benefits from Cabot and Baines Simmons before we immediately consider anything else.

Baines Simmons is a different proposition to Air Partner's current activities. Are you looking to move away from broking, which has traditionally been your core service offering?
- Not at all. We have embarked upon a ‘Customer First’ programme which will play an important part in the sustainable growth of our broking operations. Broking is, and always has been, a fragmented industry but we know that we can take a greater share. However, there is no getting away from the fact that it is lumpy and lacks visibility, which is why we have acted to diversify our revenue streams by acquiring complementary businesses which enhance our service proposition.

[speedsgh] 24/9/2015 09:11

We are all (hopefully) aware of the low earnings visibility in the core broking business + how quickly the outlook can change. They are obviously looking to tackel this over time by diversifying into other areas which will help to smooth out revenues. I like the honest assessment provided in the outlook...

"This has been an encouraging first half performance and the Board remains confident that its full year expectations for the enlarged Air Partner group can be achieved. The successes behind the improved trading, notably UK Commercial Jets and our tour operations in Europe, should continue into the latter half of the year. There are also many reasons to expect that the momentum within Private Jets, namely with JetCard and the UK's ad hoc division, can be maintained. Challenges remain, particularly the performance in the US and the sluggishness of Private Jets in Europe and we are cognisant of the need to deliver improvements in these areas."

[speedsgh] 24/9/2015 09:07

LBO - Correct. The reasons for this are explained further down the rns:

"Non-JetCard cash has fallen by £4.7m to £1.4m. The two main factors behind this relate to working capital movements as a result of increased charter demand from some of our largest credit customers, as well as acquisition investments and associated costs in the period."

and further down...
"The reduction in non-JetCard cash of £4.7m to £1.4m has largely been driven by adverse working capital movements of £4.4m, in particular through the increase of receivables to our larger credit clients as well as the acquisition of Cabot Aviation."

[lbo] 24/9/2015 08:51

Excluding JetCard deposits, cash balances decreased to GBP1.4m from GBP6.1m

[robsy2] 24/9/2015 07:49

Good set of results, lots of progress being made, increased dividend.
Should be well received .
R2

[pvb] 23/9/2015 16:54

In the absence of any header information covering their institutional shareholders,

You should, following the link in the heading, be able to get to the latest annual R&A, which will reveal the current share ownership.

[speedsgh] 23/9/2015 14:42

and just before tomorrow's interims too... which i take as a positive

[amencorner] 23/9/2015 14:02

Air Partner: Abeforth bought 118k shares; about £0.5m worth; notification date 21/9/15: nice big chunk and details just announced today.

[pvb] 22/9/2015 08:33

This share is far too illiquid and the spread is too wide.

This criticism (about liquidity) has certainly been raised in the past. I know that Tony Mack, son of the original owner and at one time the major shareholder, was once encouraged to sell some of his shares to enable wider ownership.

[masurenguy] 21/9/2015 08:44

In the absence of any header information covering their institutional shareholders, here is the latest list that I can find, as at April this year.

Schroder Investment Management Ltd: 1.77m 17.25%
Aberforth Partners LLP: 1.34m 13.05%
Barclays Bank Plc (Private Banking): 835.30k 8.14%
BlackRock Investment Management (UK) Ltd: 687.53k 6.70%
Merrill Lynch, Pierce, Fenner & Smith, Inc: 373.53k 3.64%
TD Direct Investing (Europe) Ltd: 368.00k 3.59%
Hargreaves Lansdown Asset Management Ltd: 352.00k 3.43%
Hargreaves Lansdown Stockbrokers Ltd: 347.00k 3.38%
Sanford DeLand Asset Management Ltd: 170.00k 1.66%
Castlefield Investment Partners LLP: 170.00k 1.66%

The above account for 62.5% of the existing issued shares.

[masurenguy] 21/9/2015 08:32

This share is far too illiquid and the spread is too wide. They need to increase the number of shares in the market, to say 30m with a 3 to 1 split, which would also provide a corollary price of circa 140p.

[speedsgh] 24/8/2015 20:22

Cabot Aviation is appointed by Kenya Airways as its exclusive remarketing agent -

Cabot Aviation (“Cabot”), part of the Air Partner group and a leading aircraft remarketing broker, has announced that it has been appointed by Kenya Airways as its exclusive remarketing agent for four B777-200ERs...

The appointment continues a successful year for Cabot; earlier this year it was also appointed by China Airlines as its exclusive remarketing broker in the sale of two B747-400s and one A340-300 aircraft, and it has also arranged the purchase of a B757-200ER airframe on behalf of AJW Aviation.

Commenting on the appointment, Tony Whitty, CEO and founder of Cabot Aviation, said: "We are delighted to have been appointed by Kenya Airways as its exclusive remarketing agent. This tops off an excellent few months for Cabot, in which a number of transactions are nearing completion, and we are looking forward to using our expertise to deliver the best result for Kenya Airways..."

[masurenguy] 19/8/2015 07:18

Interesting acquisition

RNS Number : 4119W
Air Partner PLC
19 August 2015

Acquisition of Baines Simmons Limited
Air Partner extends capabilities and services into Aviation Safety Consulting

Air Partner plc ("Air Partner" or "Group"), the global aviation services group, is pleased to announce the acquisition of Baines Simmons Limited ("Baines Simmons"), a world leading Aviation Safety Consultant for a total net cash consideration of up to £6.0 million ("the acquisition"). The acquisition is expected to be earnings enhancing in its first full year of ownership.

The reputation of the Baines Simmons brand and the expertise of its employees within the aviation sector are key elements which should enable the business to help shape the evolving safety requirements in the industry and in particular, the sub-sectors of aviation regulation, compliance and safety management performance. Baines Simmons will provide Air Partner with the opportunity to extend the Group's service and product capabilities which will complement and enhance its existing broking business.

[masurenguy] 31/7/2015 07:51

There it is - inline with expectations and increasing profit over last year - so no fundamental reason for the shareprice decline over the past week.

RNS Number : 6330U
Air Partner PLC
31 July 2015

TRADING STATEMENT

Air Partner, the global aviation charter specialist for corporates, organisations, individuals and governments, is releasing a Trading Statement ahead of entering a close period on 3 August 2015.

Trading in the first half of its financial year ended 31 July 2015 has been in line with the Board's expectations and pre-tax profit is expected to be not less than £2m which compares to £1.1m reported in the same period last year. The Group continues to trade in line with the Board's expectations and expects to release its Interim results on 23 September 2015.

Liberum reiterates their Buy recommendation with a target price of 480p.

[masurenguy] 30/7/2015 05:38

Thanks for setting up the new thread pvb. It would be useful if you could add some basic information into the header including a listing of major shareholders.

In their AGM RNS statement, issued on 04 June 2015, the CEO made the following statement: "While limited visibility is inherent in the Air Charter sector, we have made a solid start to the year and look ahead with a degree of optimism. The Group continues to maintain a positive net cash position. Air Partner will provide a further update before the Group enters its close period on 1 August 2015."

Therefore we should expect to see a trading update either today or tomorrow. This may possible shed some light on whether there is any reason for the 8% drop in the shareprice over the past 5 trading days, on an average daily trading volume that was circa just 40% of the 3 month daily average.

[amencorner] 28/7/2015 08:38

Thanks for the new thread pvb.

[pvb] 27/7/2015 12:20

Created because of the change from the old AIP ticker to the new AIR.

Good to see there is continuity of the pricing chart.