Wednesday, July 17, 2024
US and Freight division expected to boost profits at Air Partner

US and Freight division expected to boost profits at Air Partner

Air Partner is expecting to see strong growth in underlying pre-tax profit helped by strong results in the US and in the Freight division.

Underlying pre-tax profit for the financial year ending 31 January 2018 is expected to not be less than £6.4 million, compared to £5.1 million reported in the same period last year, and ahead of market consensus of £5.9 million, and the group says it retains a strong net cash position.

It reports the second half was strong driven by continued performance across all product lines within the Brokering division, including positive results in the US and in Freight, while the forward pipeline for Consulting & Training remains encouraging.

The acquisition of SafeSkys, a provider of environmental and air traffic control services to UK and international airports announced in September, is performing in line with expectations and Air Partner says it is excited by the long term prospects of this business.

Air Partner says: “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.”

Looking ahead, it says: “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.”


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