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9 Dec 2009 11:00
Air Partner PLC
("Air Partner" or "the Group")
AGM and Interim Management Statement
Aubrey Adams, non-executive Chairman of Air Partner, the provider of private aviation services to industry, commerce, governments and private individuals worldwide, today made the following comments regarding the Group, its financial position, performance and prospects:
"Air Partner announced full year results and updated the market on current trading just eight weeks ago. At the time we advised that first quarter trading was characterised by the global recession, slower demand and weaker rivals discounting on price. Since then little has changed and the second quarter, which is typically the Group's slowest sales period, is following a similar pattern. Forward visibility remains low, in line with the sector and management's expectations during the current global downturn. The board continues to monitor the Group for opportunities to further efficiencies and optimise Air Partner's return to growth once the economic climate improves.
The company remains in a strong financial position with no debt and £16m of cash at 31st October 2009."
9th December 2009
ENQUIRIES:
Temple Bar Advisory Tel: 0207 002 1080
Tom Allison Tel: 0778 999 8020
Nicola Flynn
Notes to editors: please ensure "Air Partner" is written in its correct singular form, not in the plural.
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