Revenues up at Air Partner

 - October 27, 2008, 11:12 AM

Charter broker Air Partner has reported strong growth in both sales and profits for its financial year that ended on July 31. Group sales climbed 35 percent, to reach £251.3 million ($432 million) and pre-tax profits grew by 21 percent, to £9.2 million ($15.8 million).

The London-based public company’s Private Jets division, which now accounts for 23 percent of overall revenues, increased its sales by 6 percent, to £58.6 million ($100.8 million). Air Partner CEO David Savile said that within this sector there has been a 2-percent decline in corporate charter bookings but at the same time business from wealthy individuals has doubled over the past 12 months, accounting for 13 percent of revenues.

Savile also noted that charter sales have been especially strong in the UK, France, Italy and Germany. He said that the company remains “on target” for the first quarter of the new financial year (that is, August through October).