Air Partner shares climb as super-rich private jet bookings soar
Shares in private jet hire firm Air Partner climbed 5.1 per cent this morning after the firm said that US bookings in the first half of the year were above pre-pandemic levels.
Such has been the rise in bookings, the firm has been able to offset the decline in business travel, which remains in the doldrums even as leisure travel returns.
Strong demand for leisure travel from super-rich Americans was the main driver of bookings, Air Partner said.
In the UK, it said that a growing number of first time private jet users had also helped numbers rise above pre-Covid levels.
However, in continental Europe activity remains “limited”, Air Partner added.
As a result of the strong first half performance, the firm said that it was on track to make a first half profit of no less than £3.7m.
In a statement, the firm’s board said that it was continuing “to trade strongly despite the travel restrictions and the general uncertainty arising from the Covid-19 pandemic.
“The board remains encouraged by this performance and is optimistic about the prospects for both the Charter and safety and security divisions for the rest of the financial year.”
The firm also announced that it had bought Kenyon International Emergency Services for $11.7m, an acquisition that it described as “highly complementary”.
“The acquisition will immediately enhance our existing consulting, training and emergency response activities and adds new post-emergency capabilities in incident management, as well as extending our sector reach and global offering”, said chief exec Mark Briffa.
“The experience, products and services we are able to harness across the Air Partner Group with the addition of Kenyon is unmatched.”