Air Partner Investors - AIR

Air Partner Investors - AIR

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Air Partner Plc AIR London Ordinary Share GB00BD736828 ORD 1P
  Price Change Price Change % Stock Price Last Trade
-1.30 -1.86% 68.50 16:35:02
Open Price Low Price High Price Close Price Previous Close
69.20 69.20 69.20 68.50 69.80
more quote information »
Industry Sector

Top Investor Posts

panshanger1: Nice write up in investors chronicle this week -Bearbull column
sharw: Welcome to this board full of equally frustrated people. At the 15th July AGM the statement made reference to "our half year results, which we expect to release in September" but there has been no further communication. This doesn't even say September: hTtps://
rvsy2: I am a new investor in AP and haven't been able to find out when we are next due an earnings report. I would appreciate any advice on this .
pvb: HTTPS:// Possibly some 'business speak', non-answer 'answers' in there! ;-)
vprt: FYI: Answers to questions from shareholders have been posted to the website: hxxps:// I will read this now - can anyone see something of importance?
galatea99: AIR are generally very cautious in their public statements. One can see this in the monthly updates that Mark Briffa has been issuing recently, where he always stresses the "lack of visibity" beyond a month or so ahead. This AGM statement is similarly cautious. This is understandable in a business where orders always come in at short notice, by the nature of the beast. However, this time the market seems to have taken them a bit too literally, aided perhaps by a number of stops being tripped early on, evidenced by many of the sells being "A" (automatic) trades. Investors perhaps need to take a view on their own since AIR obviously can't go wild in their public statements. For me, when I see the virus pandemic still growing in places like the US,when I see Texas, Florida, California in deep trouble, when I see that Qantas has cancelled all international flights (excepting to NZ) until April, 2021 (or even July, 2021 - see link), when I see the readiness of governments to reimpose lockdowns instantly, well the seeming market assumption that the party's over and that AIR will go back to pre-virus days seems to be nonsense. I picked up a few more this morning at 85p (shown as a "sell"). Https://
onthemarblecliffs: SI13, You may be missing the dilutive impact of the placing on the returns of individual investors, as although the enterprise value of the company is unchanged, there is a significant dilutive impact on the value of individual shares. Your own investment performance is separate to the company's EV. As an example, if AIR achieves £10m of PBT this year (as a round number) then EPS would have been ~15.2p on the old share count. Assuming the £7.5m raised is used to pay down debt (saving an interest cost of 3%) then the new PBT would be ~£10.23m - but pro-forma EPS would now be 13p (14% dilution). Instead of the stock trading on 6.6x PE at 100p it is in fact going to be trading at 7.7x, reducing the upside for us shareholders. If you participated in the placing then the dilution is different but it still impacts on your personal IRR. I am somewhat annoyed about the share placing but more worried that management failed to participate meaningfully. Institutional investors will only re-evaluate the stock through better performance over a period of time. Doing well for 12 months due to covid will otherwise be regarded as a one-off. I bought into AIR as a value stock with upside on better management execution - that remains the case.
venek: "Encouraging vs what?" is the crucial but unanswered question. Only weeks ago AP withdrew their forecasts due to uncertainty and market turbulence. A 20% pay cut for all for example not just the directors as announced previously), while prudent, indicates a hard time ahead. Furloughing other staff, presumably trainers and consultants, many of whom who can readily work direct for customers while undercutting AP may come back to bite too. Another warning sign is the comments about audits and how they don't want to delay the annual results. With the AP track record on accounting scandals, when their career accountant CEO says that its a big red flag that investors need to consider, especially if the extra comms is just to butter up the market for a second delay in 2 years. Warner highlights that they are in the closed period so couldn't buy when the shares plummeted but bizarrely comments that if they could have he and Biffa might not have had the nerve to buy when they did tank! A reminder that AP directors have been notoriously reluctant to put there hands in their pockets in recent years. While its good that AP suddenly have discovered investor relations (they certainly have not been "talking often to the stock market" before) they still are fact lite and hope heavy and could be open to the charge of being misleading. Joe Halanen's recent interview also made several references to 'many enquires' but no specific examples, not even the ones they had already announced. Warner says he is "already anticipating how we might craft our update to the stock market about April’s results so as to reflect the balance between the current exceptional work and the impact of the crisis on our regular air charter, aviation safety and security businesses." Craft is a very interesting word in the context of an opinion piece which is very much in praise of spin. He does at least acknowledge that near term upsides may be countered by longer term downsides (while some here just dream of win win). Press releases from the FCO talk about working directly with airlines (the approach CAA took for the Thomas Cook repatriations avoiding brokers) and the majority of people the FCO have repatriated have been on commercial flights rather than charter flights (c90%) and some of the charters have been via overseas governments. I also see in the footnote Warner has previously praised multiple-bankrupt Trump's advice on stocks in a Times opinion piece:) Best wishes to Badger38 in his second week of self isolation. Hope he pulls through from his terrible case of TB.
venek: The difference in message between the 18 March and 1 April RNS is suspiciously large, especially as their new good news is over the past 2 months and the previous RNS was three quarters into that. If, and I think it’s a big if, AP investors didn’t understand AP wasn’t an airline less than 2 weeks ago then assuming they understand the business with total clarity today is an act of faith. It would also mean AP’s IR and branding was shockingly poor too. But I don’t buy that act of faith explanation. I’m convinced the negative 18 March foreseeably triggered a worse price drop than there would have been otherwise. AP has traditionally used a ‘choppy’ market to explain under-performance while management take full credit for all good news. They went off acquiring other companies to smooth the choppiness 5 years ago. Has that worked? Their previously under-performing acquisitions like Baines Simmonds, are plumbing new depths in under-delivery, but a least Redline offers a glimmer of hope, but in AP style an undefined glimmer. That strategy has failed. Only investors with severe Stockholm Syndrome would believe that the last 2 months, during an unprecedented pandemic, will be replicated for 10 months more. Certainly posting 1 month old business jet usage figures is not a good indication either. Anyway:- Happy APril Fools Day to One and All
masurenguy: Lord Lee of Trafford is one of Britain’s most successful DIY investors. “One of the greatest lessons I’ve learnt as an investor is to keep your feet on the ground, remember your long-term view and have faith in the recovery of the companies you have backed." After stock markets plummeted earlier this month, he bought shares in Shell on a 14% yield. Since then its shares are up 35%. Another of his top holdings is Air Partner, a private jet broker. This month it declared that the dividend would be reviewed once the crisis has passed. “When the coronavirus was in its early stages I actually added to my already substantial stake,” said Lee. “The share price has taken quite a hammering. I hope for a substantial recovery in time.” His advice to new investors is simple: “Investors should remember that we will get to a recovery — history tells us so.” Lord Lee’s top five Isa holdings 1 Air Partner 2 Aviva 3 Christie Group 4 Concurrent Technologies 5 Treatt
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