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Air Partner shares tumble

The Air Partner share price has continued to fall this week after the air charter broker announced on Tuesday a GBP3.3 million (USD4.64 million) accounting error dating back seven years.

The group's value on the London Stock Exchange fell from a March 29 close of 143 pence (200.9 cents) per share to 112.38 pence (157.84 cents) after the investor update was initially made and has continued to fall, standing at 99.6 pence (139.9 cents) at 12:00 GMT today (April 5).

The official statement said: "Following preliminary investigations, the issue principally relates to the collection of receivables from customers and accounting for uncollected amounts since financial year 2010/11.

"Certain uncollected receivables were inappropriately offset against deferred income rather than being expensed to the income statement in the appropriate financial year. This is a non-cash item and has no bearing on the company's cash balances."

 

www.airpartner.com

Heavy Lift | News

NYK confirms NCA fleet reduction thumbnail image

NYK confirms NCA fleet reduction

November 14 - NYK Group, the parent company of Nippon Cargo Airlines (NCA), has confirmed that the airline will scale down the size of its freighter fleet to only one variation of Boeing 747.
Views: 620
Out of this world shipment for Volga-Dnepr  thumbnail image

Out of this world shipment for Volga-Dnepr 

November 13 - Volga-Dnepr Airlines and Bolloré Logistics have delivered one of the first European Service Modules (ESM) for the Orion space programme, which aims to transport astronauts beyond low Earth orbit. 
Views: 626
Volga-Dnepr's speedy solution thumbnail image

Volga-Dnepr's speedy solution

November 2 - Volga-Dnepr Airlines has handled the urgent transportation of an 8-tonne engine, measuring 3 m wide, using one of its Ilyushin Il-76TD-90VD freighters.
Views: 1564

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