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magazineAir Partner achieves £6.4m profit one year earlier than expected
It looks like analysts will be forced to upgrade their earnings forecasts for Air Partner (AIR) after the company revealed an impressive trading update on 18 January.
It said underlying pre-tax profit for the year to 31 January 2018 would be at least £6.4m. That compares with current market forecasts of £5.9m and is even better than the £6.35m pre-tax profit forecast for the year to 31 January 2019.
A strong second half performance in the current financial year has been driven by good trading in Air Partner’s broking division, especially in freight and the US.
Air Partner is optimistic about its consulting division, flagging an ‘encouraging’ forward pipeline.
The company charters large aircraft to transport people or cargo and facilitates private jets for wealthy individuals.
It also provides consulting and training services, including regulation and compliance for the aviation sector.
Chief executive Mark Briffa says events such as the FIFA World Cup in Russia should boost trading in its commercial jet broking business this calendar year.
According to Briffa, there has already been increased demand for charter services ahead of the sporting competition and is expected to increase further. (LMJ)
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