Air Partner Share Discussion Threads

[markie7] 10/7/2020 08:21

topped up again here. only solid news to come from most of the markets, and it is still below pre-covid levels.

[trident5] 10/7/2020 07:39

But the price was only up on its option pricing; the placing was at around half where the company should be trading.

[podgyted] 10/7/2020 01:23

When your share price is up it makes sense to do a placing if you have opportunities. Tesla spent an age saying they didn't need further equity, but when their share price rose dramatically they cashed in for the future. Nothing wrong with that.

[haywards26] 09/7/2020 20:04

I don’t get why they required a placing..doesn’;t really make sense in a time of exceptional profits and cashflows..without an acquisition etc..

[trident5] 09/7/2020 17:53

H26 - but we just gave the company a wodge of cash, now you want some of it back? Its not very tax efficient.

[qs99] 09/7/2020 16:06

Through a. Quid shortly?

[haywards26] 09/7/2020 12:55

Would be good to hear about a reinstatement of the dividend given the exceptional profits being achieved this year..I think that would be another catalyst to drive the share price higher.

[steeplejack] 09/7/2020 08:48

Ridiculously wide nominal spread to assist MMs to line their pockets.Naughty bookies.

[qs99] 08/7/2020 12:39

Few buys coming in at a quid....GLA

[lcw888] 07/7/2020 22:15

Don’t beat yourself up about it marmar80. I’ve personally found decisions on when, and if, to sell so much harder than if to buy. I normally get it wrong, but I’ve always just wanted the Div’s from AP (I’m a fan of John Lee). I’ve paid as much as £1.13 for AP in the past, so still underwater on that particular trade!

[marmar80] 07/7/2020 21:56

Today can say I regret selling at 45. Didnt see it much higher about 2 months ago. Very surprised that air is flying higher than before covid. Well done to those who stayed in.

[lcw888] 07/7/2020 21:24

I’m treating myself to champagne tonight on the share price hitting £1 (or the offer at least) and my portfolio hitting the +400% return mark. I don’t post very often to this BB, but I read all your comments on a daily basis. I went very large in March and I literally didn’t sleep properly for weeks worrying if I’d misread the opportunity and researching every aspect of the air charter market. In hindsight it was an easy decision, but at the time there was a lot of self doubt! Anyway, I have no intention of selling any shares. I’m in for all the future dividends. I’m still a bit bitter at being diluted by the share placing at 75p, so I really hope that cash is used wisely because now is the time to expand!

[galatea99] 07/7/2020 19:01

Trident5, of course it is bad news that, by their actions, inaction, incompetence and ineptitude, useless politicians and useless governments and useless international health organisations and the useless EU and the lying and deceiving Chinese government have all together brought this health catastrophe down on the world with hundreds of thousands of deaths and all its associated economic impact. But this board is not the place for reprimanding and shaming speech and figures of speech. QS99 was obviously referring to "views" in relation to the impact on AIR. Nothing more. My view is that AIR is actually contributing positively to helping to mitigate the consequences of the problem and we as shareholders are doing likewise and we ought to be proud of that. If, as a result of that, we and AIR make some profit, we and AIR richly deserve it. We are certainly not the ones to be shamed and censored. The targets for that kind of thing are elsewhere.

[studentinvestor13] 07/7/2020 15:20

Nice rise, but it's only a four bagger at 100 QS!

[qs99] 07/7/2020 14:20

Sorry, posting again, so near to actually being "through" a quid....cmon AIR....5 bagger from 20p low.....much more to come IMO.....! DYOR

[qs99] 07/7/2020 12:01

on the impact for AIR. Of course anyone getting COVID is sad, we have had all that with the SI thread recently. So once that is clear, views on possible impact on AIR? £1 on the offer....

[trident5] 07/7/2020 09:45

Views? Clearly, it would be very bad/sad news. Do you have a different view?

[qs99] 07/7/2020 09:35

Report in BBC of African COVID cases doubling and doubling quicker may open up new avenues for AIR? Any views? SOUTH Africa and Eqypt being worst hit

[qs99] 07/7/2020 08:16

Nice opening, can we push through a quid today? DYOR

[qs99] 06/7/2020 08:17

Good morning all AIRers....let's see if we can break the quid this week....GLA

[qs99] 03/7/2020 19:24

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[onthemarblecliffs] 03/7/2020 18:38

Fair comment on your part too. We all want the same thing for AIR, i.e. success. Hopefully the new run-rate for profits is higher than in the past - even if less than currently. The CEO spent a large part of the shareholder update video talking about paying down debt, which I suspect was the real reason for the placing - growth opportunities being the fluff. Once the business settles down then I would hope they would take a closer look at the cash levels - and distribute some to us shareholders! There is a major difference between the cost of equity and debt for AIR currently. Onwards and upwards (hopefully!).

[qs99] 03/7/2020 11:11

haha, fair point, it is not all about the recruits/new offices as you say, I was merely addressing the point you made. The placing said: "The Directors have been encouraged by this strong trading performance, and believe the Company is well placed to continue capturing new business opportunities resulting from the impact of COVID-19. Accordingly, the Directors believe it is prudent to strengthen the Company's balance sheet, enabling the repayment of the debt taken on at the time of the acquisition of Redline Worldwide Limited in December 2019 and enabling the Company to capitalise on new opportunities arising from COVID-19 that will help drive organic growth, such as: -- Significant government and commercial work; -- Attraction of key talent with books of business across the air charter industry; and -- Opening new office locations, in geographies where the market fundamentals are strong" So to strengthen the balance sheet post deal as well as the new offices/talent. So as I have said, they need to show they are doing those 3 bullet points, but maybe the office opening and teams will only take (say) £500k of that as you point out above, strengthening the balance sheet may enable it to bid competitively on work and ensure those govt/commercials don't think they are too weak to take it on? Again, we won't know until they start announcing these things which they will need to do over coming months to maintain credibility IMO.... given the EBITDA it is making however, you do wonder why it is not chucking off more cash to cope with all this....let's hope management haven't awarded themselves some big FO bonuses or something!! DYOR and good weekend QS99

[onthemarblecliffs] 03/7/2020 10:28

QS99 - in answer to your question. I have not personally opened a new office (have you?) but I have worked in the brokerage industry for most of my career and know the transport industry - both asset heavy and asset light - very well. AIR is an asset-light broker - it is a collection of people with telephones at heart (although they do more than this). Where is the capital requirement? If you believe that this expansion is going to meaningful and costly then we will see a significant impact on the P&L, as the incremental costs will be staff related and thus expensed. Do you expect this? In my view this impact does not seem likely given AIR has opened 4 offices in the past 24 months (Dubai, LA, Houston, Singapore) with no need to raise capital - so how many offices is it going to open in the next 18 months that require all this capital? Transport brokers, whether air charter, ship or freight forwarders are always opening and closing offices: they don't and shouldn't need to raise capital to do so. Alternatively, let's take it from a bottom up perspective - a charter broker makes around £30-40,000 a year (check this on glassdoor etc). You need to hire an office head and that is perhaps £80-100,000 (the highest paid directors at the likes of Chapman Freeborn and Air Charter Service earn c.£170,000). In the period of expansion from 2019 to 2020 AIR's operations employees grew by a grand total of 28. Assuming 4-5 employees in each new location then you are looking at incremental direct staff costs of c.£250,000 per year, on top of which you need to add office rent, taxes, equipment etc. They raised £7m in the placing - to reiterate just how many offices are they planning on opening?

[qs99] 03/7/2020 09:20

And market looks like it is finally recognising this and moving it towards the £1 mark