UK-based Air Partner Reports Charter Demand Growth

 - October 16, 2008, 11:58 AM

London-based aircraft charter broker Air Partner has reported strong growth in both sales and profits for its fiscal 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 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 actually doubled over the past 12 months to account 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 fiscal year, meaning August through the end of this month.