29 June 2016

Air Partner plc

("Air Partner", the "Company", or the "Group")

Grant of Options under Long Term Share Incentive Plan 2012 ("LTIP")

Air Partner announces that on 29 June 2016 the Remuneration Committee of the Company, which is made up entirely of non-executive directors, approved the grant of nil-cost options ("Nil-cost Options") over ordinary shares of 5p each in the Company ("Ordinary Shares") under the Air Partner 2012 Long Term Incentive Plan ("APLTIP") to the executive directors as follows:

The Remuneration Committee has also approved the grant of Nil-cost Options over an aggregate of 50,497 Ordinary Shares to the Air Partner plc senior management team.

The awards granted are subject to the achievement of performance conditions as specified by the Remuneration Committee as follows:

Performance Conditions

Shares will only be released to you as a participant if the Company's performance meets the relevant criteria.

Awards will be subject to the following conditions which will be measured over a three year performance period:

(a)  Two thirds of the Award (66.67% of the Award) will be subject to an earnings per share ("EPS") compound annual growth target which will be in addition to any increase in the Consumer Prices Index ("CPI"), as follows:-

EPS growth                                      % of award vesting

Below CPI+ 5% pa                                   Nil

CPI + 5%                                                  25%

CPI+ 10% pa or above                             100%

The EPS figure used in this calculation will be underlying adjusted EPS (with adjustments consistently applied for the baseline EPS figure and the EPS figure at the end of the Performance Period) which is averaged over two years ending for (a) the baseline EPS, on 31 January 2016 and (b) for the EPS at the end of the Performance Period, on 31 January 2019. The Committee shall have absolute discretion in determining the adjustments EPS figures.        

For intermediate performance between CPI+ 5% pa and CPI+10% pa vesting will occur on a straight-line basis.

(b)  The remaining one third of the Award (33.33% of the Award) will be subject to an absolute total shareholder return ("TSR") performance condition as follows: 

Below 9% pa returns                                 Nil

9% pa returns                                           25%

16% pa returns or above                         100%

TSR is calculated comparing the Air Partner Ordinary Share price at the start of the performance period (the average of the closing mid-market prices over the 20 trading days ending on 31 January 2016) with the Air Partner Ordinary Share Price at the end of the performance period (the average of the closing mid-market prices over the 20 trading days ending on 31 January 2019) and adding back the gross amount of dividends paid during this period.

For intermediate performance between 9% pa returns and 16% pa returns, vesting will occur on a straight-line basis.

The adjusted underlying EPS averaged over the two years ended 31 January 2016 has been calculated as 24.6p.

The number of shares subject to the award was determined by using the closing price of an Air Partner plc share on the day preceding the date of grant (28 June) as ascertained by the Official List which was 339.63p per share.

29 June 2016

 About Air Partner:

Founded in 1961, Air Partner is a global aviation services group that provides worldwide solutions to industry, commerce, governments and private individuals. The Group is structured into four reporting divisions: Commercial Jets, Private Jets, Freight and Baines Simmons. The Commercial Jet division charters large airliners to move groups of any size. Cabot Aviation, which is formed within the Commercial Jet division, provides comprehensive remarketing programmes for all types of commercial and corporate aircraft to a wide range of international clients. Private Jets offers the company's unique pre-paid JetCard scheme and on-demand charter. Air Partner Freight charters aircraft of every size to fly almost any cargo anywhere, at any time. Baines Simmons is a world leader in Aviation Safety Consulting which specialises in aviation regulation, compliance and safety management. Air Partner is headquartered alongside Gatwick airport in the UK. Air Partner operates 24/7 year-round and has 20 offices globally. Air Partner is listed on the London Stock Exchange (AIR) and is also ISO 9001:2008 compliant for commercial airline and private jet solutions worldwide.  www.airpartner.com