N+1 SINGER NOTE: AIR PARTNER (AIR LN) – ANOTHER STRONG MONTH OF TRADING, WITH PBT OF £10M DELIVERED YTD – CORPORATE

Analyst Greg Poulton says: “Air Partner has issued a further shareholder update, confirming PBT of at least £10m in the first five months of the year to June, an increase of £2.5m since the last update to May. The Group continues to deliver impressive results despite a challenging market backdrop. As has been the case throughout the COVID-19 crisis, performance has been driven by strong activity in the Freight and Group Charter divisions. Crisis driven activity is expected to reduce in H2, with an anticipated recovery in the Group’s core activities, where the update reports positive early indications across the Group’s divisions. The balance sheet is very well supported, with net cash at 30th June standing at £13m post the recent £7.5m fund raise. The Group continues to have access to total debt facilities of £14.5m. Whilst visibility for H2 remains limited, we believe the Group is well placed to deliver a strongly profitable FY21 result

Please note all Member News Releases/Articles are the opinions of the member submitting the article and not necessarily those of BBGA.

‘The BBGA provides our industry an invaluable co-ordinated voice which can be used to debate, listen, negotiate, report, promote and educate’
Malcolm Humphries – Managing Director / Chief Pilot
Capital Air Ambulance
This feature is not enabled!