Air Partner PLC - Air Partner Statement - COVID-19 Update
AIR PARTNER STATEMENT - COVID-19 UPDATE
COVID-19 continues to affect communities around the world and cause significant disruption to the global transportation and logistics industries. We are extremely proud of the
Our overriding concern is the health, safety and wellbeing of our workforce and everyone that we work with. Accordingly, we are complying with government recommendations in the countries where our offices are situated and are implementing additional preventative and protective measures specific to our operations. Our colleagues directly involved in crisis work are properly trained and are provided with the appropriate protective clothing, equipment and materials to safely execute their role on behalf of our customers, and they observe a quarantine period after completion of the project. We have also implemented working from home shifts and rotations for colleagues and, in some instances, we have contingency plans in place to temporarily protect our staff by relocating them from severely affected zones to other offices in our network where possible.
Specific crisis activity and capabilities
Despite the global impact of COVID-19, we have had an extremely busy start to the new financial year, with February reporting a good profit and March starting strongly. In direct response to the COVID-19 outbreak, we launched a new product, Air Partner Protect, to support customers flying during this difficult time. This unique product combines the capabilities and services of our Charter and Safety & Security divisions in one dedicated project team, to mobilise and support customers. Recent examples of Air Partner Protect in action are the projects undertaken for the
Group Charter, which specialises in chartering aircraft carrying over 20 people, has seen customers cancelling or delaying travel plans, particularly in the Meetings, Incentives, Conferences & Exhibitions (MICE), Sports and Tour Operations sectors. Our forward order book included significant MICE events which have now been delayed indefinitely and we were due to benefit from scheduled sporting tournaments in 2020, notably the Euros, which have now been postponed until next year. However, the delays and loss of this work could be mitigated by an increase in aid projects and evacuation activity. Our strong reputation and track record serving the global cruise sector means that we are working currently to help these customers repatriate significant volumes of passengers.
Our Private Jets division, which charters aircraft for up to 19 people, has seen continued high levels of activity in the
Freight demand has slowed as the COVID-19 crisis intensifies and supply chains have become interrupted by factory closures and travel bans. Freight volumes will increase in due course as supply chains recover, and in our experience of prior outbreaks, it is likely that they will surge sharply once aid projects begin to ship supplies, equipment and personnel to affected areas.
Safety & Security
Training, testing and consulting activities have seen an immediate impact from COVID-19 as the vast majority of these activities are delivered physically onsite or in classrooms, and restrictions on delegate travel, workplace attendance and meetings have led to cancellations or indefinite deferral until the crisis abates. Prior to the outbreak we had a strong pipeline. Where possible, we are switching in-person courses to e-Learning. However, it is too early to forecast when or how these activities will recover post the COVID-19 crisis as this is an unprecedented situation and customers include global airline carriers and airports, which have been severely hit by the crisis.
Our long-term contracts remain unaffected, though some activities such as covert security at airports will be impacted until passenger volumes through terminals return to more usual levels. The acquisition of Redline in
The acquisition of Redline is proving its strategic rationale far earlier than we could ever have expected, most notably as part of our newly launched Air Partner Protect product. The Redline team worked alongside the Group Charter and Freight teams to carry out the evacuation of British and Irish nationals from a cruise ship in
Dividend and current outlook
The COVID-19 crisis began at the start of our financial year and so it is too early to judge the full year impact - either positively or negatively - with any degree of certainty at this point. As a result, it is no longer possible to provide financial guidance for the remainder of the financial year ending
The Board reminds shareholders that the Group owns no aircraft and does not operate as an airline.
A further update will be provided with the Group's full year results in
TB Cardew (Financial PR advisor)
020 7930 0777
07789 998 020
07876 222 703
07766 231 520
About Air Partner:
Founded in 1961, Air Partner is a global aviation services group providing aircraft charter and aviation safety & security solutions to industry, commerce, governments and private individuals, across civil and defence organisations. The Group has two divisions: Air Partner Charter, comprising Group Charter (formerly Commercial Jets), Private Jets, Freight and Remarketing; and Air Partner Safety & Security (formerly Consulting & Training), which comprises Baines Simmons and Redline Assured Security.
Group Charter charters large airliners to move groups of any size. Private Jets offers the Company's unique pre-paid JetCard scheme and on-demand charter for up to 19 people. Freight charters aircraft of every size to fly almost any cargo anywhere, at any time. Air Partner Remarketing provides comprehensive remarketing programmes for all types of commercial and corporate aircraft to a wide range of international customers.
Baines Simmons offers Aviation Safety Management, Fatigue Risk Management, Air Traffic Services, Wildlife Hazard Management and Aircraft Registry Services. Redline Assured Security delivers government-standard security training and solutions.
Air Partner has 17 offices across three continents, with its headquarters located alongside
More information is available on the company's website (www.airpartner.com).
This information is provided by RNS, the news service of the
Quick facts: Air Partner
Market Cap: £37.04 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE