June 4 - UK headquartered charter broker, Air Partner, has issued its interim management statement for FY 2013 - as its freight division continues to struggle in the face of weak global demand.
The company's Commercial Jet and Private Jet divisions performed well, trading ahead of the equivalent period of FY 2012.
However, Air Partner noted that its freight revenues remain significantly lower year-on-year in 2013. Air Partner states it has realigned the division's cost base and positioned it accordingly to take advantage of any opportunities when they arise.
In its statement, Air Partner claims its Commercial Jet arm overcame reduced government, conference and incentive revenues with new business targeted in the tour operator and oil and gas markets. With a strategic focus on the US and European markets, Air Partner's Private Jet division has also presented new revenue generating opportunities.
Air Partner explained that despite the challenges facing the aviation sector it continues to trade profitably and remains debt free, with a strong net cash position.