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Share Name Share Symbol Market Type Share ISIN Share Description
Air Partner Plc LSE:AIR London Ordinary Share GB00BD736828 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.10p -2.24% 91.50p 153,597 16:35:24
Bid Price Offer Price High Price Low Price Open Price
88.20p 94.80p 91.80p 90.20p 90.20p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 77.46 3.37 5.60 16.3 47.8

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DateSubject
19/5/2019
09:20
Air Partner Daily Update: Air Partner Plc is listed in the Travel & Leisure sector of the London Stock Exchange with ticker AIR. The last closing price for Air Partner was 93.60p.
Air Partner Plc has a 4 week average price of 82.10p and a 12 week average price of 71.40p.
The 1 year high share price is 129p while the 1 year low share price is currently 71.40p.
There are currently 52,290,943 shares in issue and the average daily traded volume is 161,792 shares. The market capitalisation of Air Partner Plc is £47,846,212.85.
24/4/2019
20:06
cd27idw: Re poor share performance: you might want to check out AIR's performance relative to it's peers, I.e. easyjet, IAG, Wizzair, Dart Group and, dare I say Fastjet and Flybe. Obviously you can't compare with Flybe, because they're not listed anymore, and Fastjet are a basket case kept afloat by Stelios's many friends. Air's share price has only in the last four months converged with it's group, having out-performed since the error was uncovered. Granted the failure to iron out the cyclic trend is worrying, but very early days there; that said I worry about their ability to deliver on this count. Results due May 4; maybe price getting real up to ten?
24/4/2019
13:54
venek: We'll have to differ on "as expected". In contrast the law expects accounts to be filed by the statutory deadlines without excuse. "We had a 6 year latent problem with our parent company accounts" is not an excuse that plays well with investors either as evidenced by the continued poor share price. It would be ironic if the envisaged but yet to be realised back office synergies of acquisitions have simply meant that swamped AP group staff are now unable to meet statutory deadlines. Not something that boosts confidence in future accounting robustness.
23/4/2019
19:09
welshdaff: Certainly more focus on the core business but the price correction partly reflects lack of success with earnings diversification leaving investors exposed to volatile risks. Acquisitions have been small with disappointing returns and nothing purchased in 18 months. Worthwhile transactions may need a higher share price for effective funding. A circular problem difficult to resolve. Previous comments are now ringing alarm bells. I toiled in financial services regulatory compliance for years and watched investment guru Jim Slater for obvious reasons. He based decisions on when directors, particularly the CEO and CFO, bought shares. Its noted AP’s CEO has not bought but now totally illuminating that since the accounting disaster the CFO has not invested a penny after 7 months of familiarisation, especially when confidence desperately needed boosting. Linked or otherwise, no director has bought in this period. Mr Biffa even offloaded 34,000 recently. Arguing that stock will rise but still grabbing an excuse to sell would lack credibility. Are these strong indicators of bad news to come? If so investors may accept trading issues but definitely nothing governance related because shockwaves from years of accounting failure still linger. Valhamos (posting March29) was incorrect because proper governance/compliance is categorically a board’s responsibility. Ensuring those processes work effectively, even if accounting staff can’t manage it, is what audit committees are obligated to do. The accounts should explain this somewhere as a legal commitment to third parties. Its ingrained across fin services and should be so everywhere. Ergo “the poor management responsible for the accounting issue” with one/two (?) exception have in fact continued in post and potentially as before. Interestingly, the regulator’s website shows AP is possibly the only high profile scandal not yet independently reviewed leaving 5 years of governance negligence explained so far only by what management chose to (not) tell about compliance. Shareholders stuck on big losses usually get an independent assessment after entrusting their funds. I bailed months back sensing directors would not be buying but still copped it. The current fin services Watchstone case will be instructive after their shareholders lost patience. Could it be more ironic that the new chairman is still in charge of governance at GrantThornton, the firm regulators are showing missed everything at Pat Val? My daughter completed her audit articles there before very swiftly moving on.
23/4/2019
10:10
pvb: Appointment of Kevin Macnaughton as Managing Director, Charter https://uk.advfn.com/stock-market/london/air-partner-AIR/share-news/Air-Partner-PLC-Appointment-of-Kevin-Macnaughton/79740180
16/4/2019
12:03
venek: Yes, share price is now back to where it was in August 2016. This week the current BS MD has been in post for a year...and another BS Principal consultant has gone. They are leaving at a rate of one every 4 months, so with just 5 left the cupboard will soon be bare.
29/3/2019
11:20
valhamos: The poor management, that is those responsible for the accounting issue that led to the drop in share price have departed. From the recent update: "Our Charter division has performed well in the year. Across our product portfolio we have seen a strong performance in Freight and Commercial Jets, and a flat performance in Private Jets, albeit with JetCard reporting a double-digit increase in customer numbers. Our Consulting & Training division has maintained a strong pipeline and product offering through the year. We have won a number of new contracts in Training, Consulting, Fatigue Risk Management and Wildlife Hazard Management, which will further support the growth of this division in the years ahead. We continue to see good results from teamwork between Charter and C&T, which leverages the Group's full capabilities."
25/1/2019
07:55
venek: trident5 you make a share split sound like it would appeal to a vacuous management team, obsessed by style over substance, looking to find cosmetic ways to pump the share price and divert attention from fundamentals and underlying business performance.
19/1/2019
13:21
venek: Briffa did appoint the auditors and CFO who have now gone, signed off years of accounts that we now know where flawed, has now been busy signing off a series of accounts that have missed statutory filling deadlines, was COO during the Gold Air acquisition and closure and has now spent another £10mn on acquisitions that have yet to prove themselves (an in one case missed AP's own targets for it and whose training business is performing substantially below pre-acquisition levels). That is all fact and in my opinion concerning. Another fact is that on 31/5/2018 19:10, the day AP announced they were unable to publish their annual accounts, you, pvb, expressed surprise that the AP share price was holding up, before someone point out that trading had been automatically suspended as they had failed to meet the LSE deadline for filing. In my opinion THAT post was hilariously funny.
02/9/2018
17:00
lbo: They have no option but to keep buying more and try to average down their already losing position and to make matters worse the share price would be plummeting if they were not buying all the shares being dumped and their original position would be worth even a lot less.And Keith Ashworth has had close ties to Air Partner for many years even before the accounting scandalThis was back in January when share price was much higher and before the accounting issues became publichttp://m.citywire.co.uk/money/four-shares-the-pros-are-buying/a1081379"Ashworth-Lord increased his investment in the company by 1% to 10%. At a share price of 139.1p, the stake is worth £7.3 million. The shares have rallied from around 77p in mid-2016 to the highest the stock has traded since 2008, with the sharp fall in the graph above showing the impact of last January's one-into-five share split. The shares are held in the £247 million CFP SDL UK Buffettology General fund and feature as a top 10 position. Ashworth-Lord previously covered the stock as an equity analyst at WH Ireland"
27/4/2017
16:15
masurenguy: A quick review by Paul Scott. Air Partner Share price: 112.3p (down 4.9% today) No. shares: 52.2m Market cap: £58.6m Preliminary results - for the year ended 31 Jan 2017. Just re-reading my notes from 15 months ago, when I concluded that this share looked quite interesting, with a big dividend yield, and a StockRank of 99 at the time. The share price was 388p then, so adjusting for the 1 for 5 share split in Jan 2017, that's 77.6p in new money. Therefore we've seen a 45% share price rise in 15 months - not bad. Although we're in a roaring bull market, most things are going up. The main activity of this company is aircraft broking, e.g. private jets for sports teams, HNW individuals, business people, etc. This generates 90% of the profit. There is another, consultancy division, which looks early stage - a distraction maybe? The highlights section shows a good increase in profitability. This looks to have come mainly from improved margins, rather than top line growth: Underlying EPS of 6.5p seems to be below consensus expectations of c.7.5p. I've done some digging, and the difference is down to a one-off higher tax charge in 2017/17. Stripping out that one-off impact, the results are actually in line with expectations. So that's fine. Dividends are a particular feature here - the company pays out most of its earnings in divis. The 5.2p divis for 2016/17 represent a fairly attractive yield of 4.6%. Balance sheet - this looks unusual, since the company receives substantial cash deposits up-front from its JetCard scheme. This is important, because of the £19.8m cash, £15.9m is actually money that belongs to customers using the JetCard. Since the company also says in the narrative that it intends moving this cash into segregated accounts, to reassure customers, then it's essential to ignore the JetCard cash when valuing the shares. Therefore, I would adjust the balance sheet by removing £15.9m cash. The other side of the double entry is to reduce deferred income by £15.9m too. So basically, the enterprise value figure will be wrong, and needs to be manually adjusted in this way. Overall though, the balance sheet looks OK to me. Outlook - sounds alright, but not exciting; Trading has commenced in line with the Board's expectations and this, together with the pipeline of work for the next quarter, means that we begin the 2017/2018 financial year with a degree of optimism Valuation - forecasts for the new financial year are unchanged at £6.4m normalised profit before tax. Although a somewhat higher tax charge is expected this year too, so EPS has been trimmed from 8.7p to 8.1p by one broker today. That gives a PER of 13.9, which looks about right to me. My opinion - it looks OK. We have to remember that this sector is very cyclical, so both profits and share price are clobbered when the economy turns down. For that reason, it's the sort of thing to ditch as soon as storm clouds are seen on the economic horizon. In the meantime though, I can see the attraction of a nice yield, and what appears to be a well-run business. I like the chatty narrative with today's results too - the company seems focused on delivering customer service, and repeat business, which seems very sensible. Overall then, it looks quite a nice company, probably fairly priced.
Air Partner share price data is direct from the London Stock Exchange
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