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Wonder if they have more positive news !!!!
And here is one of the three 747's already at ASI's premises in Cotswold Airport in Gloucestershire.
https://www.gloucestershirelive.co.uk/news/cheltenham-news/corsair-boeing-747-becomes-third-4219984
Just to close the story on this remarketing, I've found on a French site the info that the three 747's are to be taken apart by Air Salvage International in UK. Spare parts for the 747 seem to be still very much in demand, especially so the motors, as the article mentions, so it seems the US buyer wanted them for their spare parts value. Hence the particular mention in the earlier article of there being two extra spare engines included in the sale.
"Les trois appareils (S/N 26880, 26877 et 26875), produits pour les besoins de la compagnie américaine United Airlines en 1992, ont ainsi été revendus à FTAI Aviation (Fortress Aviation and Investors). Le sort final des appareils est évidemment connu, devant être démantelés par Air Salvage International au Royaume-Uni."
« Il y avait un intérêt considérable pour ces B747, en particulier en raison de leur type de motorisation. Bien que le marché soit actuellement particulièrement difficile, certains types d'avions et de moteurs sont en demande » a précisé Tony Whitty, EVP Remarketing & ACMI chez Air Partner."
https://www.journal-aviation.com/actualites/44845-les-anciens-boeing-747-400-de-corsair-appartiennent-a-ftai-aviation
"Air Partner Remarketing, a division of the Air Partner group, announces that it has participated in the resale of the three Boeing 747-400s of the French airline Corsair, as well as two of their spare engines (PW4000), as an exclusive intermediary .
The three aircraft (S / N 26880, 26877 and 26875), produced for the needs of the American company United Airlines in 1992, were thus sold to FTAI Aviation (Fortress Aviation and Investors). The final fate of the aircraft is obviously known, to be dismantled by Air Salvage International in the United Kingdom.
“There was considerable interest in these B747s, especially due to their type of engine. Although the market is currently particularly difficult, certain types of aircraft and engines are in demand, ”said Tony Whitty, EVP Remarketing & ACMI at Air Partner.
Corsair separated from its latest 747-400 (F-GTUI), also the last French 747, during a ceremony organized in Orly on June 15. The three aircraft were acquired in 2005 from United Airlines to replace the 747-300."
https://twitter.com/surprised_trade/status/1282230384495939584
simply flying with increased profits month on month
https://www.sunnewsonline.com/covid-19-fg-reschedules-flight-from-uk-over-landing-clearance/
"The Federal Government has rescheduled the Air Peace Airlines flights billed to evacuate Nigerians stranded in the United Kingdom due to landing clearance issues.
The High Commission of Nigeria in London, in a statement posted on the Twitter account of the Minister of Foreign Affairs, Geoffrey Onyeama, informed prospective evacuees that the Air Peace flights billed to depart on July 13, from London Heathrow to Abuja and Lagos, had been rescheduled to depart on Tuesday, July 14, from Gatwick Airport.
‘Furthermore, Air Peace Airlines has contracted Air Partner to operate the flight on its behalf and any other information will be communicated directly to the passengers,’ the Nigerian High Commission said."
The charts here, from about 9'00 in, of the virus situation in the FACT states (Florida, Arizona, California, Texas) illustrate what is happening there and illustrates how AIR ought to have business in great volumes through its offices in three of those four states. Freighting in PPE plus private jet hire. Sad situation in human terms but that's the reality of how it is.
https://www.realvision.com/shows/daily-briefing/videos/daily-briefing-july-10-2020?utm_campaign=2020710_alert_briefing_leads_combo_1_standard&utm_medium=email&_hsmi=91171635&_hsenc=p2ANqtz--jAJCBtx4mIFJpxkT-p95_bnpxiozmiffPAuKqXspxJMHARZj-FQPRqHUL3dCx_GK3PjlnaUc5O67ZhgbUYApsLhxpCDR6uNX-zBJhJLMJyGLBv28&utm_source=leads_combo
(Very good site, btw)
Although this article is US-facing, it may well indicate new business for AIR through the three existing and the two recently-opened new US offices in Houston and LA, while also confirming that private jet travel is likely to benefit from fear of flying on regular commercial flights. Houston and LA (the two new offices), as well as Fort Lauderdale are all in states where the virus outbreak is still raging strongly and demand there for more secure personal air transport ought to be strong as well.
https://privatejetcardcomparisons.com/2020/07/10/heres-where-the-private-jets-were-flying-for-the-july-4th-holiday/
Talk on news this morning of flying in foreign university students on special charter flights. That could be lucrative. Only be about half a university fee to fly in much needed foreign students. I believe they pay a lot more than the standard £9,000 per year for British students. Seems endless possibilities opening up.
That’s a great find of info ...
Company has got its fingers in so many pies ....
15th for AGM - will they provide a update on there cash plans ???
One model from 1992 quoted here, with PW 4000 series engines, seems to have a list price of US$16m, although I assume the actual sale price would be lower, especially in the current market conditions. Still, on three aircraft plus two spare engines, even 1%-2% (I understand fees are generally of that order) will be a tidy sum.
https://www.controller.com/listings/aircraft/for-sale/list/category/3/jet-aircraft/manufacturer/boeing/model-group/747
Good find. Very well connected. AIR have certainly come a long way from renting a strip of grass runway near Gatwick to retrain Air Force pilots into commercial airline pilots in 1961!
Yet another source of income. AIR's fee on this resale ought to be juicy.
"Three Boeing 747-400s formerly part of the fleet of French leisure airline Corsair have been sold to the aviation division of a US-based transport and energy sector investor.
Fortress Transportation & Infrastructure Investors, located in New York, is picking up the 747-400s – identified as bearing serial numbers 26880, 26877 and 26875.
All three aircraft were originally delivered to United Airlines during 1992-93.
The jets are powered by Pratt & Whitney PW4000 engines, and these powerplants have resulted in “considerable interest” in the aircraft, claims Air Partner executive vice-president for remarketing Tony Whitty.
“Although the market is currently more challenging, certain aircraft and engine types are in demand,” he says."
"Air Partner, which served as the exclusive remarketing agent for the Corsair 747s, points out that the agreement with Fortress includes two spare engines.
Corsair had parked the three 747-400s as part of a modernisation programme under which it intended to switch to a fleet entirely comprising Airbus A330s, including A330-900s – three of which are on order."
https://www.flightglobal.com/us-investment-firm-picks-up-corsairs-747-400-fleet/139222.article
https://twitter.com/elite_traveler/status/1280577758511407104
There's been a surge in private jet charter enquiries, according to Air Partner, with a particularly sharp increase from first-time private fliers.
No no yo-yoing Jimmy, just dropped to 13p earlier this year:) but I did start buying at 40p and still buying today at two and a half times the price. So have come to the conclusion why spread out into lots of different shares going nowhere or backwards when you can just buy into one outperforming? Follow the trend and average up. Obviously if the economy goes tits up, which it already has to a great extent there will be few that benefit, the rich of course. I think a lot of them liked having their own jets as some kind of tax dodge as well as prestige, but Lewis Hamilton led the way out getting rid of his 85 million loophole. If the worst comes to the worst it won't make that much difference what you are invested in
Some serious late reported buying today, and I thought the sp was dropping . Should be another RNS I would have thought. Already makes up 25% of portfolio, can I shoals buy more? Bugger all else worth investing in
Let’s hope they are going to reward the investors with a one off dividend or have something to buy and expand the business model rather than sitting on the cash ...
These type of shares are the best just nice & steady rising no yoyo SP from one extreme to another
one of the best Share currently available with great potential of expanding and generating big profit....dyor
Yes agreed and even better because the sp was already depressed a year back due to the accounting (err-hem!) error that had reduced the price from the 140p region. Not crystallising that loss kept me in pre covid and so i went for some risky average downs.
Luckily worked out well... :)
GLA
Steady climb with no massive spikes and keeping under the radar with small tick ups is perfect ...GLA
https://twitter.com/AirPartner/status/1280095631462273030
We recently delivered wind power blades from India to Turkey for our client on a Freight charter flight.
I will stick my neck out & forecast a PBT of circa £17m for FY ending Jan 2021.
Covid worldwide challenges (& thereby fears) are far from over & opportunities from a potentially disorderly Brexit are not factored in. Also, the acquisition of Redline has fundamentally altered the structure of the company. I anticipate a share price of £1.50 to £2.00 by year end. All my own opinion of course.
"Figures released today by Air Partner, a world leader in global private jet travel, show a 321% surge in enquiries received for private jet travel in Europe during June 2020 compared to the same period last year, as a raft of Covid-19 travel restrictions begin to ease including the introduction of air bridges and the expected lift of the 14-day quarantine for arrivals to the UK.
A growing number of travellers, including many who have never previously used private jets, are exploring the option of private travel due to safety concerns around commercial flights and airports, as well as limited availability of commercial flights in Europe. Private jet travel eliminates the need to share cabins or travel through busy commercial airports, as well as being able to guarantee thorough disinfecting of aircrafts between flights.
Air Partner, which has access to more than 7,000 aircraft, listed the most enquired about European destinations this June as Nice (France), Ibiza (Spain), Palma (Spain), Faro (Portugal) and Mykonos (Greece).
A one-off flight in a private four-passenger jet from Farnborough Airport in the UK to Nice can cost from* around £7,500, while Farnborough to Ibiza starts from £8,500. However, private jet flyers most commonly choose to purchase ‘Jet Cards’, which means they buy a set number of flying ‘hours’ to be used at their discretion. In June Air Partner saw double the number of enquiries for Jet Cards compared to the year before, as this offers flyers considerably more flexibility during these uncertain times."
https://www.evaint.com/european-private-jet-travel-enquiries-up-321-this-june/
"The Group performed significantly ahead of budget in June and expects underlying PBT
for the period Feb-June 2020 to be at least £10m. In a previous note, which contained a
cautious and an optimistic scenario, we had forecast an underlying PBT range of £8.5m
to £10m for H1 FY2021, and a range of £9.5m to £12.5m for FY 2021. Based on the
progress reported to date, we believe the Group is well on its way to achieve, or possibly
exceed, these numbers and deliver record results."
https://bbga.aero/wp-content/uploads/2020/07/Canaccord-Genuity-note-on-Air-Partner-plc-020720.pdf
"Air Partner (AIR LN)
Forecasts withdrawn CORPORATE
2 July 2020
Another strong month of trading, with PBT of £10m delivered YTD
N+1 Singer view
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.
Event
? Group Charter - Group Charter had a strong month in June, carrying out repatriation work and corporate shuttles,
with the latter particularly strong in Europe and the USA, as companies continue to prioritise the safety and
wellbeing of their employees. The division also benefitted from a significant corporate project, however this was a
one off and will not repeat. Given the impact of COVID-19, the Group had seen a significant decrease in Sports
activity as numerous large sporting events scheduled for 2020, such as the Euros and Olympic Games, were
postponed or cancelled. However, it is now seeing a pick-up in demand as sporting events start to resume.
? Private Jets - Private Jets has shown positive signs of recovery, especially in the USA, and JetCard has delivered
strong sales for the month of June. The recovery in Private Jets in Europe has been slightly slower, hampered by the
UK’s 14-day quarantine policy for anyone arriving into the country.
? Freight - Freight continues to see high demand for the transportation of emergency PPE from Asia to the UK, Europe
and the US, though this is expected to normalise in H2, with a recovery in core freight activity anticipated.
? Safety & Security - As announced in June, the Safety & Security division has secured a long term contract with the
Civil Aviation Authority (CAA). It is now also providing consultancy services to private aviation company Jet Edge.
On the Security side, covert testing is showing early signs of recovery, while the Safety team delivered over 50
virtual courses during June, as clients adapt to new operating requirements and standards.
Impact on earnings & valuation
Our forecasts continue to be withdrawn. Management will give a more detailed outlook statement at the time of the
H1 results."
https://bbga.aero/wp-content/uploads/2020/07/N1-Singer-note-on-Air-Partner-020720.pdf