Date: Tuesday 14 Jun 2011
LONDON (ShareCast) - Private aviation company Air Partner said its performance for the full year is firmly on track after a sharp increase in one off emergency flights from North Africa and Japan.
Commercial Jet broking, the group's largest operating division, is currently performing ahead of management expectations, Air Partner said.
While the division's trading levels have been higher as a consequence of one-off emergency flights, it warned that the market remains highly competitive.
Pricing at its Private Jet broking division remains weak and margins are expected to remain under pressure during the current year.
Looking ahead the group has seen some early signs of improvement in the financial sector, although it is still too early to assess the potential impact from these, it said.
In Europe, France and Germany are beginning to see stronger trading levels but the division's challenge remains to widen its client mix.
The group cash position is currently £11.5m and it remains debt-free.
Air Partner said it has the "financial headroom and flexibility to continue to invest over the coming year in building market share and extending Air Partner's global presence."
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