TIDMAIR
RNS Number : 5375E
Air Partner PLC
08 July 2021
LEI: 213800JLR6YIRMSCUS98
8 July 2021
AIR PARTNER PLC
("Air Partner", "Company" or "Group")
AGM STATEMENT AND POSITIVE TRADING UPDATE
Air Partner, the global aviation services group, is pleased to
report that it has enjoyed strong trading over the first five
months of its financial year and now expects to surpass management
expectations for the year ending 31 January 2022.
The Company, which holds its Annual General Meeting at 12.30pm
today, is now trading well ahead of pre-COVID levels. This
performance has been driven in part by the ongoing high levels of
activity in US Private Jets, where the large domestic market has
enabled HNWIs to continue flying. Trading is also strong in Group
Charter, driven by government, sports and cruise sector work.
Momentum is starting to build in UK Private Jets, with business now
back at pre-COVID levels, and this is expected to continue as the
vaccine roll-out drives the return of business and leisure travel.
Meanwhile, Freight was busy at the start of the financial year,
delivering COVID-19 test kits and vaccine raw materials, but this
activity has now reduced. As a region, Europe remains challenging,
and the Group does not currently expect to see a material recovery
until 2022.
The Private Jets performance continues to benefit from Air
Partner's first-rate JetCard programme, which allows clients to buy
private jet flying 'hours' in advance, while offering fixed rates
and the ability to change booking details at short notice, without
penalty. It is proving extremely popular as it gives travellers the
ability to fly in safety the moment travel restrictions are lifted.
New JetCard sales in the current financial year, as at the end of
June 2021, are up 36.8% versus the prior period and JetCard
deposits now stand at GBP18.9m, up 6.2% on the year-end
balance.
The Safety & Security division continues to see improvement
as airports scale up operations in anticipation of increased
passenger numbers. Following the successful conversion of many of
its safety training courses from classrooms to virtual delivery,
Baines Simmons is seeing a strong recovery with the military
sector, with customers including the UK Military Aviation
Authority, Leonardo and the Royal New Zealand Defence Force. Work
with commercial aviation organisations remains subdued as a result
of government restrictions; however, the Group sees strong
potential going forward, particularly in design organisation, such
as its work supporting Heart Aerospace on the design of an
all-electric regional aircraft, and helping organisations to manage
their risk as they prepare to scale up activity.
Government restrictions have also led to a slower recovery at
Redline on account of low airport movements. Despite this, in the
financial year to date, the company has renewed nine contracts,
totalling nearly GBP1 million, and secured five new business wins
with Gatwick Airport, Doncaster Sheffield Airport, Teesside
International Airport, DHL and the Welsh Parliament, worth a
combined GBP191,000.
Outlook
Although the timing of easing of restrictions on travel remains
uncertain across Air Partner's various geographies, the Board is
pleased with the Group's performance so far in the current
financial year and is optimistic about the prospects for both the
Charter and Safety & Security divisions. In particular, it
expects to see the ongoing recovery of the aviation industry drive
strong demand for Air Partner's Safety & Security services, as
previously mothballed operations are brought back into action.
As at the end of June, the Group is debt free and has cash in
the bank of GBP11.1m, excluding JetCard cash.
ENDS
Enquiries:
Air Partner 01293 844788
Mark Briffa, CEO
Joanne Estell, CFO
TB Cardew (Financial PR advisor) 020 7930 0777
Tom Allison 07789 998 020
Joe McGregor 07766 231 520
About Air Partner:
Founded in 1961, Air Partner is a global aviation services group
providing aircraft charter and aviation safety & security
solutions to industry, commerce, governments and private
individuals, across civil and military organisations. The Group has
two divisions: Air Partner Charter, comprising Group Charter,
Private Jets, Freight and Specialist Services; and Air Partner
Safety & Security (formerly Consulting & Training), which
comprises Baines Simmons, Redline Assured Security and Managed
Services.
Group Charter charters large airliners to move groups of any
size. Private Jets offers the Company's unique pre-paid JetCard
scheme and on-demand charter for up to 19 people. Freight charters
aircraft of every size to fly almost any cargo anywhere, at any
time. Specialist Services comprises Air Partner's other aviation
services that complement its Charter business: Remarketing, ACMI,
scheduled group travel, tour operations, air evacuation and flight
operations.
Baines Simmons offers aviation safety management and fatigue
risk management. Redline Assured Security delivers
government-standard security training, consultancy and solutions to
regulated, high value and high threat environments. Managed
Services offers wildlife hazard management, aircraft registry
services, consultancy services for airports and logistics
operations, remote condition monitoring and baggage system
testing.
Air Partner has 16 locations across three continents, with its
headquarters located alongside Gatwick airport in the UK. The group
employs around 420 aviation professionals globally and operates
24/7. Air Partner is listed on the London Stock Exchange (AIR) and
is the only publicly listed air charter broker and aviation safety
& security consultancy. It is ISO 9001:2015 compliant for
commercial airline and private jet solutions worldwide. More
information is available on the Company's website (
www.airpartnergroup.com ).
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END
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July 08, 2021 02:00 ET (06:00 GMT)
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