5th May 2020 15:37
(Alliance News) - Shares rose in Air Partner PLC on Tuesday as it reported a strong performance in the first quarter of its financial year, as its Freight and Group Charter divisions reported unusually high levels of activity.
Shares in the aviation services group were 29% higher at 49.86 pence on Tuesday in London.
For the three months to the end of April, Air Partner reported an underlying pretax profit of GBP6 million, leading to an encouraging forward order book.
The Group Charter division has continued to carry out significant repatriation and evacuation work related to the Covid-19 pandemic, which involves flying people back to their home countries.
In addition, the business has been flying agricultural workers into the UK from elsewhere in Europe, and has seen higher demand for corporate shuttles from UK and US customers.
There was also high demand for Air Partner's Freight services, particularly in April with the flying of emergency shipments of protective personal equipment for several customers, which is set to continue into May.
However, there was weak activity in Private Jets due to people following government advice to avoid non-essential travel, and Safety & Security suffered from a significant drop in aviation industry activities as a result of actions taken against the Covid-19 pandemic.
By Dayo Laniyan; [email protected]
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