Air Partner posts losses

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Updated: March 17, 2010

Air Partner posted loses in first-half profits, and closed a losing part of the business.

The company said that pre-tax profits were down by 77 percent after challenging trading in the previous six months to January 31.

The company has contacted administrators in its private jet unit after attempts to sell it failed.

The business managed a fleet of private jets when the company needed extra capacity during the boom of private jets.

Sales fell by 7 percent as the industry continued to struggle; however, there were tentative signs of improvement.

“The board has taken decisive action to ensure that the group is well positioned to return to growth, as the market starts to improve,” explained Chairman Aubrey Adams.

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