Prior to entering a close period ahead of its full year results, Air Partner, the provider of private aviation services to industry, commerce, governments and private individuals worldwide, is pleased to announce that trading for the 12 months ended 31 July 2007 has continued to be strong.
Air Partner’s business is diversified by sector, product and geography and it is pleasing to report that the Group has performed well across all of these areas. The buoyant trading conditions, increased efficiencies and strong forward orders flagged at the interim results have continued, and consequently the Company is anticipating profit before tax to be approximately 50% ahead of the comparable period.
In February the Group re-structured its core business into two focused operating divisions; Air Partner Private Jets and Air Partner Commercial Jets. Both businesses have performed extremely well, beating expectations and growing revenues. It is particularly pleasing to report significant growth in the amount of clients regularly using the Group’s services this year.
The last two years have provided Air Partner with an unprecedented period of near perfect trading conditions, driven by a strong global economy, further deterioration of the scheduled airline experience and the continued rapid growth of the high net worth segment. Air Partner has strenuously focused on using this environment to hone its strategy of becoming the leading provider of global private aviation solutions, while adding further strength and rigidity to the Group’s infrastructure.
Today, Air Partner provides the full range of private aviation services from its 23 offices, across 15 countries, to a client list that includes royalty, heads of state, governments (including six of the G8 group) and countless blue chip corporations and high net worth individuals. In the UK alone, the Group now manages the largest fleet of Lear jets in Western Europe and is investing a further £5m to develop its high security private jet enclave at its existing Biggin Hill centre.
While the forward order book is currently significantly ahead of the comparable period, near perfect trading conditions cannot be relied on indefinitely. However, Air Partner is confident that it has fully utilised the excellent trading environment to further strengthen its business and product offering, as evidenced by recent performances.
The Group’s full year results will be announced on Thursday October 11th 2007. A presentation of the results will be held at 9:30am at Temple Bar Advisory, 60 Cannon Street, London, EC4N 6NP. For information on the presentation please contact Tom Allison or Nicola Flynn on T.020 7002 1080 or email nicolaf@templebaradvisory.com
