Air Partner reports good second half performance

Air Partner, the global aviation services group, has released a trading statement ahead of its scheduled update on February 1st, and its financial year ending on January 31, 2018. Air Partner reported that it has had a good second half, driven by continued performance across all product lines within the Broking division, including strong results in the US and in Freight. In Consulting & Training, the forward pipeline remains encouraging. Underlying pre-tax profit for the financial year ending January 31, 2018 is expected to be not less than £6.4m, which compares to £5.1m reported in the same period last year and ahead of market consensus of £5.9m. The Group retains a strong net cash position. The acquisition of SafeSkys, a leading Environmental and Air Traffic Control services provider to UK & International airports, announced in September, is performing in line with expectations. SafeSkys operations relocated to Air Partner’s London Gatwick HQ in November 2017 and integration has now completed.