Air Partner PLC Air Partner appointed by Saudi Arabian Airlines (9443L)

TIDMAIR

RNS Number : 9443L

Air Partner PLC

25 July 2017

25 July 2017

AIR PARTNER PLC

Air Partner is appointed by Saudi Arabian Airlines as its exclusive remarketing agent

Air Partner's Aircraft Remarketing division (formerly Cabot Aviation), a leading aircraft remarketing agent, is pleased to announce that it has been appointed by Saudi Arabian Airlines ("Saudia") as its exclusive remarketing agent in respect of fifteen Boeing 777-200ER aircraft.

These state-of-the-art Boeing aircraft were purchased from Boeing and delivered new to Saudia from 1997 onwards. They are powered by GE90 engines and have a total of 232 seats in a tri-class configuration layout, comprised of 24 First Class seats, 38 Business Class and 170 Economy seats.

Saudia is undergoing a revitalisation of its fleet, which includes phasing out these Boeing 777-200ER aircraft as it makes room for higher-density aircraft to align with its upcoming network growth plans on both regional and international routes.

As part of the airline's SV2020 Transformation Plan, multiple new aircraft are joining the Saudia fleet monthly, allowing the carrier to optimise its network to offer increased capacity on existing routes, and also to introduce new destinations.

The ongoing fleet investment will bring the airline's average aircraft age to 3.75 years by the end of this year, which is a key element of Saudia's targeted strategy to operate one of the youngest fleets in the skies. By 2020, the airline is set to operate 200 aircraft in its fleet. New aircraft to be delivered to Saudia include: A330-300s, B787-9s and B777-300ERs.

Saudia currently operates to 86 destinations across four continents from the Kingdom of Saudi Arabia. At the 2017 Skytrax Awards held at the Paris Air Show in June, Saudia was awarded "World's Most Improved Airline" of the year. The award recognises an airline's growth and improvement across a number of categories, in a single year.

Mark Briffa, Chief Executive Officer of Air Partner plc, said: "We are delighted to have secured this mandate with Saudi Arabian Airlines and look forward to using Air Partner's extensive experience and international network of contacts to sell these aircraft."

Tony Whitty, divisional MD of Air Partner Remarketing, commented: "This appointment follows a successful period for our remarketing services, during which we have also completed the sale of two B737-700s and a new GE90 engine on behalf of Kenya Airways and two B747-400s for China Airlines."

Enquiries

 
 Air Partner                           01293 844788 
 Mark Briffa, CEO 
 Neil Morris, CFO 
 Kate Patrick, Investor Relations 
 
 Temple Bar Advisory (Financial PR 
  advisor)                            020 7002 1080 
                                          07789 998 
 Tom Allison                                    020 
                                          07876 222 
 Alycia MacAskill                               703 
 

About Air Partner:

Founded in 1961, Air Partner is a global aviation services group that provides worldwide solutions to industry, commerce, governments and private individuals. The Group has two divisions: Broking division, comprising air charter broking and remarketing; and the Consulting & Training division, comprising the aviation safety consultancies, Baines Simmons and Clockwork Research. For reporting purposes, the Group is structured into four divisions: Commercial Jets, Private Jets, Freight (Broking) and Consulting & Training (Baines Simmons and Clockwork Research). The Commercial Jet division charters large airliners to move groups of any size. Air Partner Remarketing, which is formed within the Commercial Jet division, provides comprehensive remarketing programmes for all types of commercial and corporate aircraft to a wide range of international clients. Private Jets offers the Company's unique pre-paid JetCard scheme and on-demand charter. Freight charters aircraft of every size to fly almost any cargo anywhere, at any time. Baines Simmons is a world leader in aviation safety consulting specialising in aviation regulation, compliance and safety management. Clockwork Research is a leading fatigue risk management consultancy. Air Partner is headquartered alongside Gatwick airport in the UK. Air Partner operates 24/7 year-round and has 20 offices globally. Air Partner is listed on the London Stock Exchange (AIR) and is ISO 9001:2008 compliant for commercial airline and private jet solutions worldwide. www.airpartner.com

About Air Partner Remarketing Services:

Air Partner Remarketing Services is a specialist aircraft remarketing agent which acts for airlines (flag carriers and regional) and other aircraft owners, such as banks, operating lessors, manufacturers, insolvency practitioners and high net worth Individuals, to dispose of their surplus aircraft including commercial jets, turboprops, helicopters or private jets, either by arranging a sale or lease of the aircraft. It also advises clients on the acquisition of aircraft and their fleet management process. Former and current clients have included Cyprus Airways, Kenya Airways, China Airways, Flybe, British Midland, Cargolux, Daimler-Chrysler, KLM, DVB Bank, Halifax Bank of Scotland, Investec Bank and Rolls-Royce Aircraft Management. www.airpartner.com/en/our-services/remarketing

This information is provided by RNS

The company news service from the London Stock Exchange

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July 25, 2017 02:00 ET (06:00 GMT)