LEI: 213800JLR6YIRMSCUS98
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
7 January 2022
AIR PARTNER PLC
("Air Partner", "Company" or "Group")
TRADING UPDATE
Following the announcement made by Air Partner, the global aviation services group, on 17 December 2021, the Company is pleased to report a further positive update on trading for the 12 months to 31 January 2022.
As a result of continued strong customer demand throughout December, the Board of Air Partner now expects that underlying profit before tax for the 12 months to 31 January 2022 will be materially ahead of market expectations at the time of the December 2021 trading update. December's performance has again been driven by high levels of Freight bookings, notably for the continued transportation of vaccines.
The Group's cash position remains strong with net cash of £12.9m as of 31 December 2021 (31 July 2021: £9.8m), excluding both customers' segregated JetCard deposits and a £1.4m provision for deferred consideration and other items relating to the acquisition of Kenyon International Emergency Services Inc.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended. The person responsible for arranging for the release of this announcement on behalf of the Company is Joanne Estell, CFO.
ENDS
| Enquiries: |
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| Air Partner | 01293 844788 |
| Mark Briffa, CEO |
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| Joanne Estell, CFO |
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| TB Cardew (Financial PR advisor) | 0207 930 0777 |
| Tom Allison | 07789 998 020 |
| Alycia MacAskill | 07876 222 703 |
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, which comprises Baines Simmons, an aviation safety management and fatigue risk management consultancy, Redline Assured Security, a leading provider of global security solutions, Kenyon International Emergency Services, a world leader in emergency planning and incident response, and Managed Services. Air Partner has 18 locations across four continents, with its headquarters located alongside Gatwick airport in the UK. The group employs around 450 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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