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I've not any more detail, but it's listed in the general news. Paying off debt to bolster bottom line. Sounds good to me...
Air Partner Raises GBP7.5 Million To Repay Debt From Redline Buy
rtner PLC on Friday announced and completed a GBP7.5 million placing of 10.0 million shares at 75 pence each in order to repay debt and take...
acquistions on the cards and it is times like this that the stronger companies build, and AIR are one of the stronger in the sector...never waste a good crisis :-)
So apart from what it said in the RNS, what do we think this money is needed for? Perhaps looking for a bargain investment in the sector?
could have bought cheaper in the mkt I think.....impressive to get 75p and close so early
yup, sensible and the right thing to do, opportunities will exist in the market and even with the large cash balance AIR have seizing new business and expanding now will reap benefits in future and put the company in an even stronger position and the sahre price will no doubt reflect this over next weeks as that challenge on the year high looks set to take place soon :-)
https://twitter.com/surprised_trade/status/1271323934718226433
growth and expansion fund raise at 1% discount, including retail too , that's the way to add value for a cash rich business
Thumbs up
https://www.investegate.co.uk/air-partner-plc--air-/rns/proposed-placing-of-ordinary-shares/202006120700047413P/
https://twitter.com/surprised_trade/status/1270628307952959488
'stable overheads, increased activity flows to the bottom line, boosting both profits & cash. Unsurprisingly AIR shares have taken off & are now around 80p.'' There should be further to go, perhaps a resumption of dividends."
good spot too jane, :-)
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https://www.ft.com/content/07966ea1-0e8e-4d5b-a8ee-950dfaa7b443
By contrast, there are always a few businesses which benefit from dark times. It’s an ill wind that blows no good, as the saying goes. In the early stages of Covid-19, Air Partner fell to 17p as all airline-associated stocks plunged. However, it has clearly had an excellent start to the year, with the company heavily involved in organising repatriation flights and facilitating the worldwide freight movement of PPE and industrial parts.
As a broking business with relatively stable overheads, increased activity quickly flows to the bottom line, boosting both profits and cash. Unsurprisingly AP shares have taken off and are now around 80p. Hopefully, there should be further to go — including, perhaps, a resumption of dividends."
https://www.ft.com/content/07966ea1-0e8e-4d5b-a8ee-950dfaa7b443
There have been lots of articles about repartriation flights of stranded tourists and other citizens back to their home countries and Air Partner seems to have done quite well out of that. However, it seems that there are about 400,000 seamen of different nationalities stranded on ships or in foreign ports who need to be returned to their bases or repatriated and reassigned in order to avoid serious disruption to global supply chains. Sea transport accounts for 80% of global freight. I wonder whether this represents one more income stream for Air Partner.
https://www.stripes.com/news/us/ship-crews-are-stuck-in-lockdown-straining-global-supply-chains-1.625188
and cash and profits expected to increase further in June :-)
there are still some pockets of the aviation sector that are flourishing. the business has continued to perform well ahead of budget in May”.
For the first four months of the year, it expects to make an underlying pre-tax profit £7.5 million, At the end of May, Air Partner had cash in the bank of £16.5 m
Lots of comment here from Mike Hill, Director-Group Freight. It seems that business is still booming with the routes changing as the successive outbreaks of the Chinese virus (true description, isn't it?) roll around every part of the world:
https://www.stattimes.com/news/cargo-charters-standing-right-on-the-frontline-to-fight-covid19-air-cargo/
Nice finish
Should be decent run up
Past 100 soon
"Air Partner takes off after virus grounds big airlines"
"Despite the turbulence affecting airlines and aircraft makers there are still some pockets of the aviation sector that are flourishing.
Air Partner, the global aviation services group, for example, confirmed in a trading update yesterday that April was a record month for the company and that “the business has continued to perform well ahead of budget in May”.
For the first four months of the year, it expects to make an underlying pre-tax profit £7.5 million, mainly due to high levels of activity in the freight and group charter divisions as well as “some early signs of recovery within private jets”.
Founded in 1961, Air Partner originated as a training school converting military pilots for civil aircraft duties. It is best known now for chartering aircraft large and small for Europe’s football and rugby clubs, grand prix motor racing teams, rock bands, politicians and government officials, oil and gas companies and the wealthy.
It also specialises in procuring anywhere-anytime freighters and has expanded into being a second-hand aircraft dealer and a provider of aviation training services. Based at Gatwick, it employs 450 people at 16 locations worldwide.
Air Partner said that a large proportion of current demand is for corporate shuttles, as companies in the UK and America seek to safeguard their employees. In the private jets division the company reported that enquiries for future flight bookings had doubled last month compared with April.
The aviation company added: “We have enjoyed a strong start to the financial year, however visibility beyond June remains limited. While we expect crisis work to slow down in the second half, we expect this to be replaced by a recovery in activity in our core freight business, private jets and safety and security.”
At the end of May, the Air Partner had cash in the bank of £16.5 million and also had access to a total debt facility of £14.5 million.
The shares closed up 6p, or 7.8 per cent, at 82½p."
https://www.thetimes.co.uk/article/air-partner-takes-off-after-virus-grounds-big-airlines-gn9pvv6c2
Well there is the brake on the sp..Aberforth reduced their holding, 9% left , they may hold for the expected rise or not, we will see, ...clealry todays figures and conservative estimtes on fututr prospects for those who have done quick calculations could reasonably value Air substantially above 100p, June is already expected to be on par or better and the guys are in Germany today seeking to secure further business. We know some of the expected new business is for August too, so combined with the increase in private charter (200%) a re rate and re value of the potential is in order, the figures suggest to me £100p to 140p+ once we have a free flowing sp.
great figures today and an equally great outlook, sp held back on that TR1, so it's got some catching up to do over coming sessions, on todays figures I'm sure it will :-)
https://newsroom.aviator.aero/air-partner-shareholder-update/
For the first four months of the year, the unaudited management accounts show an expected underlying profit before tax of £7.5m,
The forward order book for June is also strong, with continued demand for Freight and Group Charter services. We are now also seeing some early signs of recovery within Private Jets and Safety & Security.
We continue to see strong demand for our Freight services
ash in the bank of £16.5m, excluding significant customer deposits and JetCard cash. The Group also has access to a total debt facility of £14.5m,
Cargo work has been carried out across a range of sectors, including automotive, aid, aerospace and energy, with customer requirements ranging from the transportation of a small box via Air Partner’s growing on-board courier service to chartering the largest aircraft in the world, the An-225.
The introduction of a Freight offering in Fort Lauderdale has proven particularly successful, helping to push Freight gross profit and customer numbers to their highest ever level.
Outside of the US, the Turkey office arranged the transportation of 500 tonnes of construction materials to West Africa and the UK benefited from its work supporting airlines in their aircraft on ground (AOG) recovery, as well as government flying. The German office also continued to see high levels of activity from the automotive sector and delivered its 11th consecutive year of growth
Air Partner opened two new offices in Singapore and Houston in early 2019, both of which offer Freight services, thereby broadening the division’s geographic reach even further.
Off the back of this strong performance, Air Partner will be attending Air Cargo Europe from 4-7 June 2019 in Munich, Germany,
Mike Hill, Director of Freight at Air Partner, commented - We have a wealth of exciting cargo opportunities across a range of sectors and regions, and we look forward to capitalising on these in the coming months
https://twitter.com/surprised_trade/status/1268501689973252105
strong performance in first four months alone & more to come
April was a record trading month for the Group. The business has continued to perform well ahead of budget in May. £7.5m profit so far, £16m cash, order book for June is strong, with continued demand
the figures speak very well for themselves and support greater value ahead :-)
divi would be nice at some point ..
challenge on years high share price upcoming...the figures speak for themselves :-)
https://twitter.com/surprised_trade/status/1268433310621065217
not many companies have increased profits & cash during lockdown, AIR has done both, all on track for more next month
yes indeed, £7.5m profit so far and May and June will only add to profits ...should be a nice flight from here and at a much higer level again :-)
there are not many businesses that have grown and increased profits in the last few months, AIR is one a vey few and with a bright outlook too :-)
Perhaps on track for £10m PBT for H1.
Super!
****************************/rns/announcement/0f747e25-e4ab-4abe-abf2-a9707bb4a174/
As previously reported, April was a record trading month for the Group. The business has continued to perform well ahead of budget in May. For the first four months of the year, the unaudited management accounts show an expected underlying profit before tax of £7.5m,
The forward order book for June is also strong, with continued demand for Freight and Group Charter services. We are now also seeing some early signs of recovery within Private Jets and Safety & Security
Group Charter continues to perform well
we are now starting to see early signs of recovery. In May, our US Private Jets business had double the level of enquiries for future flight bookings compared to April, and JetCard enquires
in Europe have also increased.
We continue to see strong demand for our Freight services and the team has been busy flying emergency protective personal equipment (PPE) from Asia to the UK, Europe and US. In addition to this emergency activity, we are now beginning to see some recovery in core Freight activity as well.
cash in the bank of £16.5m, excluding significant customer deposits and JetCard cash. The Group also has access to a total debt facility of £14.5m
a little bit of turbulence in the last few minutes after a nice smooth take off first thing......while we pass through this bumpy patch here's something to take your mind off matters before we fly calmly again :-)
May private jet flight requests at Air Partner jump 210% year-over-year
"Jet card and on-demand private jet broker Air Partner says inquiries are for travel through August
A day after Sentient Jet reported quote requests had increased 241% from March lows, private jet charter broker Air Partner says it too is seeing a tidal wave of interest.
https://privatejetcardcomparisons.com/2020/05/27/may-private-jet-flight-requests-at-air-partner-jump-210-year-over-year/