Air Partner PLC Trading Statement (2009C)

TIDMAIR

RNS Number : 2009C

Air Partner PLC

18 January 2018

LEI: 213800JLR6YIRMSCUS98

18 January 2018

Air Partner plc

TRADING STATEMENT - AIR PARTNER HAS GOOD SECOND HALF PERFORMANCE

Air Partner plc ('Air Partner' or 'Group'), the global aviation services group, is today releasing a trading statement ahead of its scheduled update on 1(st) February, and its financial year ending on 31 January 2018. A detailed update on business performance will be provided with the full year results, which are expected to be released on 26 April 2018.

With two weeks to go before the end of the financial year, Air Partner is pleased to report that it has had a good second half. This has been driven by continued performance across all product lines within the Broking division, including strong results in the US and in Freight. In Consulting & Training, the forward pipeline remains encouraging.

Underlying pre-tax profit for the financial year ending 31 January 2018 is expected to be not less than GBP6.4m, which compares to GBP5.1m reported in the same period last year and ahead of market consensus of GBP5.9m. The Group retains a strong net cash position.

The acquisition of SafeSkys, a leading Environmental and Air Traffic Control services provider to UK & International airports, announced in September, is performing in line with expectations and we are excited about the long term prospects for this business under our ownership. SafeSkys operations relocated to our London Gatwick HQ in November 2017 and integration has now completed.

In line with our clear growth strategy, the Board continues to assess investment opportunities, both organic and acquisition, to enhance or extend the services and capabilities we offer our customers, which will over the long term, strengthen and advance our market position as we deliver exceptional service and value to our customers globally.

Outlook

Air Partner has had another encouraging year and the Board is confident about future prospects.

As we always state, the world of aviation, and most especially the global charter industry, can be volatile. Against this backdrop we manage the business for the long term, with a very clear strategy of alignment to the needs of our global customer base.

Ends

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) NO 596/2014).

Enquiries:

 
 Air Partner                              01293 844 788 
 Mark Briffa, Chief Executive Officer 
  Neil Morris, Chief Financial Officer 
  Kate Patrick, Investor Relations 
 TB Cardew (PR Advisor to Air Partner)    020 7930 0777 
 Tom Allison                              07789 998 020 
 Alycia MacAskill                         07876 222 703 
 
 
 

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, Clockwork Research and SafeSkys, as well as Air Partner's Emergency Planning Division. For reporting purposes, the Group is structured into four divisions: Commercial Jets, Private Jets, Freight (Broking) and Consulting & Training (Baines Simmons, Clockwork Research, SafeSkys and Air Partner's Emergency Planning Division). The Commercial Jet division charters large airliners to move groups of any size. Air Partner Remarketing, which is 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. SafeSkys is a leading Environmental and Air Traffic Control services provider to UK and International airports. 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

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January 18, 2018 02:00 ET (07:00 GMT)