Air Partner Share Chat (AIR)

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Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Air Partner	LSE:AIR	London	Ordinary Share	GB00BD736828	ORD 1P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-2.10p	-2.32%	88.50p	87.00p	90.00p	-	-	-	200	16:35:21

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Travel & Leisure	48.5	4.8	6.9	12.8	46.21

Air Partner Share Discussion Threads

Showing 1126 to 1150 of 1150 messages

Chat Pages: 46 45 44 43 42 41 40 39 38 37 36 35 Older

Date	Subject	Author	Discuss
17/1/2019 18:34	Cabot was bought for £1.2mn in May 2015. AP has transferred new aircraft re-marketing business to themselves and this subsidiary is only handling legacy projects. Again, I reach for my worry beads that the performance of this acquisition is masked by this approach. This is one business line that is genuinely very 'lumpy'	venek	Read Full Thread Reply
17/1/2019 18:33	Aviation Compliance has been a dormant company for several years. So last FY should not have been a challenge to avoid a late filing fine!	venek	Read Full Thread Reply
17/1/2019 14:11	How much did they pay for Cabot?	trident5	Read Full Thread Reply
17/1/2019 13:20	Air Partner (prev. Cabot) Aviation Services Limited Aviation Compliance Limited accounts now filed - 3 down 2 to go	sharw	Read Full Thread Reply
14/1/2019 09:59	Https://www.bbc.com/news/uk-england-beds-bucks-herts-46810151 Airlander 10: World's longest aircraft gets full-production go-ahead 13 January 2019 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share Media captionA helicopter captured footage of the Airlander 10 prototype's maiden flight in August 2016 The world's longest aircraft is set to go into full production with the model designed to take its first passengers. It comes after the prototype £32m Airlander 10 - a combined plane and airship - was formally retired following successful final testing. As a result, Bedford firm Hybrid Air Vehicles (HAV) has been given Production Organisation Approval from the Civil Aviation Authority (CAA). Airlander 10 hit the headlines in 2017, when the prototype collapsed. An eyewitness said the aircraft appeared to "break in two" after breaking its moorings and deflating, in November that year, less than 24 hours after completing its sixth successful test flight. The firm was given Design Organisation Approval from the European Aviation Safety Agency (Easa) in October. Image copyright sbna Image caption The Airlander collapsed on 18 November 2017 Stephen McGlennan, HAV's chief executive, said 2018 had been very good, with Easa's backing a "huge highlight". He said the firm had changed its focus last year towards the production of Airlander 10 as a commercial aircraft for customers. "The prototype served its purpose as the world's first full-sized hybrid aircraft, providing us with the data we needed to move forward from prototype to production standard," he said. It is now hoped the full commercial model will take to the skies with its first paying passengers "in the early 2020s". You may also like: World's longest aircraft collapses Williams 'blasting' music to torment Page Man held after boy dies in hit-and-run HAV submitted a £32m insurance claim after the prototype crash, telling its shareholders this was the "maximum insured value". Image copyright Getty Images Image caption Airlander 10 was originally based at Cardington Airfield Approval from the CAA and Easa now puts the firm in a "strong position to launch production". HAV carried out its first test flight of Airlander 10 from its former home at Cardington Airfield in August 2016 but left the site in June last year. In July, it revealed it planned to offer "luxury expeditions" once all tests were successfully completed. CORRECTION: This article has been revised to make it clear the prototype of Airlander 10 has been withdrawn after successfully completing final testing. It also clarifies that Hybrid Air Vehicles has been given the required certification from all air authorities to begin full commercial production of its aircraft.	waldron	Read Full Thread Reply
12/1/2019 18:07	Feels like smoke and mirrors to me and my advice is don't inhale the smoke. Unfortunately(?), on the previous share drops, I already have! So I can only hope you're doubts prove to be wrong. ;-)	pvb	Read Full Thread Reply
12/1/2019 17:10	Thats why the accounts being over due is so frustrating. The changes of accounting periods (Clockwork shortened 5 months and Safeskys extended 6 months) also make it more difficult to unravel a true picture of Air Partner's consultancy adventure, unless Air Partner include a lot more objective evidence and less glib guff. They have at least quietly admitted that Baines Simmonds has failed to meet the expectations they set on acquisition. However, in their Oct 18 interim statement they said "Consulting & Training gross profit up 8%" but now we find that the main part of that business had a 50% drop the previous year... Feels like smoke and mirrors to me and my advice is don't inhale the smoke.	venek	Read Full Thread Reply
12/1/2019 15:31	Those 7 months had seen a fall of 30% in average monthly turnover vs their last 12 month period. Now perhaps the fatigue management business is very seasonal but that seems large. Then again, for a small company, how many contracts are they dealing with at any one time? In other words, how 'lumpy' is their turnover over a typical year or longer period? (cf. the original AIR business) I don't know, do you?	pvb	Read Full Thread Reply
12/1/2019 14:18	The Clockwork Research accounts are some of those outstanding. They are a much smaller than Baines Simmonds but they were bought just over a month before their lasting filing (of 7 months of accounts), so the delayed accounts will give more detail on how they have performed post acquisition. Those 7 months had seen a fall of 30% in average monthly turnover vs their last 12 month period. Now perhaps the fatigue management business is very seasonal but that seems large. On the plus side their operating margin has been a lot better than Baines Simmonds. Clockwork were just 5 employees according to their last accounts. Looking at a screen shot I kept of their staff when they were bought they have lost one founding director, their ops manager and one researcher. A fairly worrying turnover of talent. They were also a supplier to Baines Simmonds even before the purchase, with Baines Simmonds marketing Clockwork training. So the purchase may have secured that relationship but may not have brought as much revenue as some outsiders may have thought.	venek	Read Full Thread Reply
12/1/2019 13:52	Yes, a good day! Though half that was off one relatively small late trade. They remain 37% down on the day before they announced the accounting investigation was being launched last year. The Investor Relations line is terribly weak. It’s understandable that the AP finance team put much day to day business on hold during the 2 month investigation. But they have to get back on top of that or risk another SNAFU and more non-compliance. That slowness in filing accounts for subsidiaries demonstrates they aren't making progress. They are just 3 weeks from the end of another financial year and still have accounts to file for year ending 31 Jan 18! And if they are blaming their outgoing accountants for letting them down on timely auditing of the subsidiary accounts, what they are really saying is their Interim CFO or new CFO failed to manage them.	venek	Read Full Thread Reply
11/1/2019 23:09	Either way, up 6% today.	pvb	Read Full Thread Reply
11/1/2019 08:07	Hmmm - do we know? Or - they would say that, wouldn't they?	trident5	Read Full Thread Reply
11/1/2019 07:51	Thanks sharw, basically what I have been suggesting - not a new corporate governance issue or sign of continuing accounting problems but merely the fallout from the original issue from last April. Hopefully we can put this to bed and move on.	valhamos	Read Full Thread Reply
10/1/2019 19:44	...Well, thanks for the update.	pvb	Read Full Thread Reply
10/1/2019 19:39	Well, we do know. If you had bothered to follow my suggestion on 4/1 to contact the company you would have (eventually) had a request for a phone number and then given a call from the company to say that it was all in hand and to explain the reasons. These were basically the amount of work required for the financial review by staff who would have otherwise been progressing subsidiary company a/cs among other things and also the change of auditor. These a/cs were to be done by the outgoing auditor and once they had been given the boot any outstanding work for AIR unsurprisingly became lower priority.	sharw	Read Full Thread Reply
10/1/2019 15:21	Much of the administration at companies we invest in is invisible to us. Late filing may be the tip of an ugly iceberg. Or it may just be one of those things. Time will tell, but it is a red flag. ...or to put it another way: We really just don't know.	pvb	Read Full Thread Reply
10/1/2019 15:20	Late filing of subsidiary accounts is a lot more frequent (or was) than some might think. It is not a good thing but as I have said before I think there is an explanation in that is is a consequence of the investigation carried out in April to June last year. What do you mean when you say it is a "red flag"? - that you should be selling your shares?	valhamos	Read Full Thread Reply
10/1/2019 15:13	It's not evidence - but it's a very bad sign. Companies filing late are typically doing so because of accounting, liquidity or governance issues. Much of the administration at companies we invest in is invisible to us. Late filing may be the tip of an ugly iceberg. Or it may just be one of those things. Time will tell, but it is a red flag.	trident5	Read Full Thread Reply
10/1/2019 14:52	"Late completion of filing the subsidiary accounts is evidence of continued problems." I don't think so. The accounts for Baines Simmons for the two previous years were filed on 3 October 2016 and 18 September 2017. So at most the accounts were delayed by 3 months compared to the previous years when Deloitte were also the auditor. As I have explained before that period is entirely explicable in terms of the time taken to sort the accounting irregularities discovered at AIR earlier in the year. In other words this together with the change in finance staff has likely meant that Deloitte could not do the work when it was originally planned and has led to the 3 month delay.	valhamos	Read Full Thread Reply
10/1/2019 14:27	Which would say their due diligence on purchase was poor. Poor DD certainly fits my worry that they have bought at least one under performing company. And IF thats what they were doing, then failing to communicate that is also poor.	venek	Read Full Thread Reply
10/1/2019 14:00	Late completion of filing the subsidiary accounts is evidence of continued problems. Possibly. Or, possibly, evidence of forensic examination of subsidiary accounts going back several years in order to discover or forestall, any repetition of the AIR accounting problems coming from a subsidiary?	pvb	Read Full Thread Reply
10/1/2019 11:52	Late completion of filing the subsidiary accounts is evidence of continued problems. Baines Simmonds accounts were only signed 19 Dec 18, 7 weeks after the 9 month deadline for filling, and Deloitte were the accountants not AP's new accountant PWC so there is no delayed by a hand-over excuse. Clockwork Research accounts are still marked "Accounts overdue Next accounts made up to 31 January 2018 due by 31 October 2018". One miscreant (if that is really the cause) messing up the AP accounts is one thing. The fact it wasn't spotted for 6 years is another. Remember Briffa appointed Deloitte back in 2012 after dumping Mazars after a previous restatement of the accounts! He then appointed a CFO from.... yes, Deloitte in 2014.	venek	Read Full Thread Reply
10/1/2019 11:30	By "adrift on basic corporate governance and compliance" you presumably mean the earlier accounting problems? But is there any real reason to think they are ongoing? We don't know the full details but the person who carried out the cover up had already left the company and the recent CFO has since left.	pvb	Read Full Thread Reply
08/1/2019 19:38	Are you short on this share Venek?	3800	Read Full Thread Reply
08/1/2019 09:33	And the Baines Simmonds accounts (signed 19 Dec) have now been filed. Not encouraging: Turnover down 15%. Operating profit halved. Consulting sales described as lagging, but big falls in training and outsourced business revenue too (and the latter seems tied to how popular the IoM aircraft registry is, something AP can't really influence). They claim training was down due to a lack of sales staff, suggesting they are struggling to get repeat business(December and January training is currently 10% discounted, no doubt to try to pump this FY's results). Ops staff down and admin is now 1/3 of headcount. Only 10% of sales in EU27, and having lost their US and Australia businesses before AP bought them, that suggests a big exposure to UK aviation (they still list one now bankrupt British airline on their website as a customer). They have made much of their IPR products previously. This year they they are trying to rationalise them for efficiencies. They online video claimed they had worked with 22 different carriers (down 6 vs the previous year's publicity). Only one specific new contract mentioned. It didn't take much research to see that is a follow on to earlier work so not going to drive growth.	venek	Read Full Thread Reply

Chat Pages: 46 45 44 43 42 41 40 39 38 37 36 35 Older