Air Partner grows private jet charter by 12%
Air Partner, a UK-based aircraft charter broker, saw private jet revenues grow by twelve per cent to £22.7m over the first six months of the company's financial year, as private jet broking remained the Group's strongest performing division.
Air Partner, a UK-based aircraft charter broker, saw revenues from private jet charter grow by twelve per cent to £22.7m over the first six months of the company’s financial year, as the private jet sector remained the group’s strongest performing division.
The division’s profit before tax was also up 30% to £0.4m, representing a 22% share of overall group revenues.
Mark Briffa, CEO of Air Partner, pointed towards a recruitment drive – with the company appointing Tom Engerlhard as Head of Private Jets Continental Europe in September 2012 – and an industry-wide shift from fractional programmes to adhoc charter and jet cards as reasons for the company’s growing in spite of a still depressed market.
“We have grown our market share by taking business from the fractional market,” says Briffa. “In the US we have grown by taking brokers from our competitors who are bringing business with them.”
The company sold 17 new jet cards sold in the period – predominantly to high-net-worth individuals – and completed the sale of its first jet worth $1 million to a corporate client.
“Our share of the European brokerage market is in the region of two per cent. In the UK, it is in the low twenties,” said Gavin Charles, CFO of Air Partner. “We see that as a significant opportunity for growth.”
