Jet charter firm slumps

Mar 17 2010 by Iain Laing, The Journal

A FIRM which charters aircraft for governments and the super-rich has posted a slump in first-half profits and closed a loss-making part of the business.

Air Partner said pre-tax profits were down 77% to £1m after challenging trading in the six months to January 31.

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% 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% of its business comes from governments – such as aid flights to Haiti, organ transportation for the NHS and troop movements.

It is also working with political parties about meeting their flying needs for the general election campaign.

Government and military business has held up better than the downturn in demand in the private jet market.