Air Partner set to end year 'materially ahead' of expectations

Aviation service provider Air Partner issued a further positive update on trading for the year about to end on Friday, reporting that as a result of continued strong customer demand through December, it now expected underlying profit before tax for the year ending 31 January to be “materially ahead” of market expectations.

The London-listed firm said December's performance was again driven by high levels of freight bookings, notably for the continued transportation of vaccines.

It said its cash position remained “strong” with net cash of £12.9m as at 31 December, up from £9.8m at the end of July.

That excluded customers' segregated JetCard deposits, and a £1.4m provision for deferred consideration and other items relating to the acquisition of Kenyon International Emergency Services.

At 1445 GMT, shares in Air Partner were up 4.08% at 89.51p.