Air Partner has seen freight profits double to £0.8 million ($1.1 million) in 2015 while the company’s profits were down to £2.3 million due to acquisitions during the year.
The freight division performed well due to continued work with governmental aid agencies assisting with geopolitical crises and strong growth in Germany and the US. Air Partner says it benefitted from developing strong relationships and a good reputation with freight forwarders, while its ‘Red Track’ technology helped the aircraft on ground business.
Air Partner chief executive officer, Mark Briffa says: “Our full-year performance is a testament to all of those who work at Air Partner and shows that by putting our Customer First we can deliver good trading and positive momentum, the benefits of which we are already seeing in the new financial year.”
“The acquisition of Cabot Aviation and Baines Simmons are exciting opportunities for Air Partner to extend the Group’s service and product capabilities and should enhance our customer proposition.”
Company revenue increased from £37.6 million in 2014 to £49.9 million in 2015, while profit fell to £2.3 million from £2.8 million, due to £1 million of costs relating to acquisitions. During the year, Air Partner acquired aircraft remarketing broker, Cabot Aviation Services, and aviation safety consultant, Baines Simmons.