January 8 -UK headquartered charter broker Air Partner has overcome cyclical and structural challenges and is in a strong position to return to profitable growth, says investment consultant Liberum Capital.
Air Partner saw revenues grow by 39 percent year-on-year in the first half of 2013 and Liberum Capital stated that although the economic recovery remains "tentative", it sees the company as being well positioned for future growth. Therefore, it reiterated its 'buy' recommendation and increased its target share price from 555p to 700p.
Liberum Capital identified Air Partner as having a clear strategy to offset a reduction in governmental client business, without having to rely on a rebound in private sector chartering activity.
Air Partner also stands to benefit from changing trends in the US private jet market, says Liberum Capital. The US market for private jets has shifted away from fractional ownership towards charter operations, with Air Partner in a strong position to capitalise on this trend.
