AIR.L Regulatory News (AIR)

Air Partner PLC

("Air Partner", "the Group" or "the Company")

Interim Management Statement

Air Partner, a leading provider of private aviation services to industry, commerce, governments and private individuals worldwide, today releases its second interim management statement for the year ending 31 July 2010.

Current trading

Since reporting half year results in March, the prevailing conditions in the wider aviation sector have remained difficult. However, Air Partner has seen improved trading, albeit off low levels, in some business areas. At the half year results the Board flagged tentative signs of some recovery in the fourth quarter, and while it is still early in the quarter, trading during May was good. The eruption of Eyjafjallajokull volcano in Iceland led to a busy period, but the effect was broadly neutral as additional client activity was offset by cancelled flights during the flight ban. Forward visibility remains poor and the Group is sensitive to any further economic deterioration or further flight bans.

As a result of the improving trading conditions, the Board expects Group profitability on a like for like basis, excluding the Private Jet Operating Company (PJOC) and associated re-structuring costs, to be ahead of the current full year expectations. However, there will be significant one off, exceptional costs as a result of redundancies and key personnel changes.

Re-structuring

The re-structuring and transitioning back to Air Partner's core broking business is progressing well. The process has seen significant costs removed from the business as the Board seeks to align overheads with current client demand. The cost savings should positively impact the financial year ending 31 July 2011. As outlined at the half year results, post re-structuring the Group will be leaner and tightly focused on its core business.

The PJOC administration process remains on track: as the process completes the Board anticipates additional closure costs in the region of £0.5m. Air Partner will provide a comprehensive update at the full year results, once the administration process is fully complete.

Cash Position

The Group remains debt free and with cash of £13m at the end of April 2010. Working capital requirements have reduced the cash position year on year primarily due to high volumes of government work, Governments being one of the few client sectors that Air Partner extends credit to.

Dividend

The Board reiterates its intention to pay a dividend at the full year, once the working capital requirements have been established.

The Board is confident that the decisive action taken earlier this year has better positioned Air Partner for a return to growth as the aviation market improves.

Ends

3rd June 2010

Enquiries: Telephone:

Temple Bar Advisory 0207 002 1080

Tom Allison 0778 999 8020

Alex Money 0795 683 1007

Notes to editors: please ensure "Air Partner" is written in its correct singular form, not in the plural.