Air Partners sees dive in profits as demand for private jets slows

JET charter firm Air Partner yesterday reported falling revenues and profits in the year to the end of July due to “challenging trading conditions and a tough comparable period”.

Total revenues fell by almost 20 per cent to £227.6m, and pre-tax profits dropped from £5.3m to £4.1m.

Air Partner said a flurry of business in the wake of last year’s Arab Spring and Japanese earthquake have made this year’s figures look drab by comparison.

“The board is cautious in its outlook for the coming year because of the uncertainty of the world economy. However it remains confident that Air Partner is strengthening its position as a global leader for air charter solutions,” said the firm in a statement.

Shares in Air Partner closed 8.5 per cent lower at 260.75p yesterday.