Air Partner sees profits nosedive

A firm which charters aircraft for governments and the super-richposted a slump in first-half profits and closed a loss-making part of the business.
By The Newsroom
Published 16th Mar 2010, 20:20 BST
Updated 16th Mar 2010, 20:20 BST

Air Partner said pre-tax profits were down 77 per cent to 1m

after "challenging" trading in the six months to January 31.

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And the company has called in administrators at its private jet operating company based at Biggin Hill in Kent after attempts to sell it failed.

The business, which had 44 staff, managed a fleet of private jets when Air Partner needed extra capacity at the height of the boom, but racked up losses of 1.2m in the first half and the firm wants to focus on its main private jet broking operation.

Continuing sales fell 7 per cent to 95m as the aviation industry continues to struggle but the firm also said it had seen "tentative signs" of improvement.

Air Partner has a royal warrant and carries out up to 30,000 flights a year. It currently works with six of the G8 nations while around 40 per cent of its business comes from governments – such as aid flights to Haiti.

Related topics:Kent