Air Partner profits soar as PPE shipping drives record year
Aviation group Air Partner today reported a record year of growth, driven by its ferrying of PPE during the pandemic.
Air Partner saw underlying pre-tax profit soar by 176 per cent to £11.6m throughout the year ended 31 January 2021.
Gross profit was also up by more than 31 per cent to £44.9m, while statutory pre-tax profit hit £8.4m.
Air Partner’s US operations also drove growth, contributing 39.6 per cent of total group gross profit, as its private jets performed well despite the Covid crisis.
Following the full year results update, shares in Air Partner rose 11.3 per cent as markets opened.
Mark Briffa, CEO of Air Partner, said the firm showed its ability to partner with governments to play a key role in the provision of PPE during the pandemic.
“We have started the new financial year ahead of expectations, with our organic investments in the US continuing to drive growth in this important market.
“Looking ahead, I am excited about the opening up of the aviation sector and believe our Private Jets and Safety & Security offerings are especially well placed to benefit from the re-opening of skies and airports.”