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Air Partner

Discuss Shares, buying selling, tips and deals
Bouleversee
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Re: Air Partner (AIR)

#156316

Postby Bouleversee » July 31st, 2018, 12:42 pm

and the price has gone down again.

PinkDalek
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Re: Air Partner (AIR)

#156364

Postby PinkDalek » July 31st, 2018, 3:34 pm

They haven't actually exactly announced the previous Company Secretary has left, as she may conceivably still be in her other role. What they have announced is there is a new Company Secretary, being all that is required on a change of Company Secretary:

https://www.londonstockexchange.com/exc ... 37483.html

The previous one was/is Group Legal Counsel, having been appointed to the joint role in September 2017:

https://www.londonstockexchange.com/exc ... 53308.html

Presumably they'll update this page in due course, to show the current Company Secretary:

https://www.airpartner.com/en/investors/advisors/

Noted on the share price. Should I top-up again? ;)

Bouleversee
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Air Partner

#176391

Postby Bouleversee » October 26th, 2018, 12:02 pm

I don't quite know what to make of this Article in the Daily Telegraph following Air Partner's results, especially the penultimate paragraph:

https://www.telegraph.co.uk/business/20 ... r-warning/

Should we be worried or encouraged?

Alaric
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Re: Air Partner

#176402

Postby Alaric » October 26th, 2018, 12:58 pm

Bouleversee wrote:I don't quite know what to make of this Article in the Daily Telegraph following Air Partner's results, especially the penultimate paragraph:

https://www.telegraph.co.uk/business/20 ... r-warning/

Should we be worried or encouraged?


What are they using to pay the increased dividend?

Increase in profits, return of capital or borrowing?

redsturgeon
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Re: Air Partner

#176491

Postby redsturgeon » October 26th, 2018, 8:06 pm

Moderator Message:
This thread now merged with previous thread on same topic.

PinkDalek
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Re: Air Partner (AIR)

#218880

Postby PinkDalek » May 2nd, 2019, 9:31 am

Air Partner plc

Notification of Results for the 12 months to 31 January 2019

Air Partner, the global aviation services group, will announce its results for the year ended 31 January 2019 on Thursday 9 May 2019. ...


https://www.londonstockexchange.com/exc ... 60247.html

PinkDalek
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Re: Air Partner (AIR)

#220476

Postby PinkDalek » May 9th, 2019, 4:11 pm

As has been noted on other share discussion boards, Air Partner have yet to release their results today, although at least a couple of people have been told they'll appear this afternoon.

Bouleversee
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Re: Air Partner

#220478

Postby Bouleversee » May 9th, 2019, 4:21 pm

Which other boards? Sounds a bit ominous. Hope we don't get repeat performance.

PinkDalek
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Re: Air Partner

#220479

Postby PinkDalek » May 9th, 2019, 4:28 pm

Bouleversee wrote:Which other boards? Sounds a bit ominous. Hope we don't get repeat performance.


Other share discussion boards, such as:

https://www.stockopedia.com/content/air ... ts-474881/ (you may need to scroll down)

Still not here https://www.londonstockexchange.com/exc ... ml?lang=en

Bouleversee
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Re: Air Partner

#220481

Postby Bouleversee » May 9th, 2019, 4:37 pm

Thanks. Not impressed. Sounds like more bad news on the way.

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Re: Air Partner

#220489

Postby Bouleversee » May 9th, 2019, 5:01 pm

I see they closed 8.3% down, bringing my loss to 33%. I was hoping for some good news today. It does seem extraordinary to leave it so late to announce results.

PinkDalek
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Re: Air Partner (AIR)

#220509

Postby PinkDalek » May 9th, 2019, 6:26 pm

No time to look but the results were finally announced at 5:45pm (post close):

https://www.londonstockexchange.com/exc ... 68864.html

AndyPandy
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Re: Air Partner (AIR)

#220552

Postby AndyPandy » May 9th, 2019, 9:43 pm

PinkDalek wrote:No time to look but the results were finally announced at 5:45pm (post close):

https://www.londonstockexchange.com/exc ... 68864.html



Don't seem too shabby. No skeletons and a modest Divi increase.

As a result, the Directors are proposing a final dividend of 3.85p (FY18: 3.80p). Taken with the interim dividend of 1.75p (FY18: 1.70p) this would bring the total dividend for the year to 5.60p per ordinary share (FY18: 5.50p), an increase of 1.8%.

The final dividend is expected to be paid on 4 July 2019 to shareholders on the Company register at the close of business on 7 June 2019. The ex-dividend date will be 6 June 2019.


Of course, NetJets is owned by Berkshire Hathaway and Warren Buffett has recently stated that he is looking for buying opportunities in the UK. Complementary Business models. Shoo-in. You heard it here first :D

Bouleversee
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Re: Air Partner

#220623

Postby Bouleversee » May 10th, 2019, 10:56 am

Far too much to read, assimilate, try to make sense of and remember in the time I have available at present. However, I can't say after a quick whizz through I was over-impressed and an increase of 1.8% on such a low dividend is no consolation for a loss of 33% of the value of my holding. They tell a reasonably good story but I wonder how rosy the future is in view of the current panic over climate change and the fact that we are now made to feel guilty about flying at all, not that I have done so for over 10 years for other reasons.

I suppose we'll have to wait for the Annual Report to see what has happened to directors' earnings, bonuses etc. during this period.

PinkDalek
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Re: Air Partner

#220628

Postby PinkDalek » May 10th, 2019, 11:24 am

Bouleversee wrote:...an increase of 1.8% on such a low dividend ...


Currently yielding approximately 6.5%.

... is no consolation for a loss of 33% of the value of my holding. ...


That was yesterday, whilst the announcement was awaited. There's been a reasonable recovery today and I too remain underwater but my dividends (sheltered) will have nearly covered the losses, for what it is worth.

Bouleversee
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Re: Air Partner

#220653

Postby Bouleversee » May 10th, 2019, 1:12 pm

.
PinkDalek wrote:
Bouleversee wrote:...an increase of 1.8% on such a low dividend ...


Currently yielding approximately 6.5%.

... is no consolation for a loss of 33% of the value of my holding. ...


That was yesterday, whilst the announcement was awaited. There's been a reasonable recovery today and I too remain underwater but my dividends (sheltered) will have nearly covered the losses, for what it is worth.


There is a big spread though, isn't there? My p/f shows a current value of 82.20p (selling price) and a loss of £989.56 (-32.99%). I will tot up my divs. since purchase but they won't amount to anything like that. How do you work out current yield when the price is so volatile? I hadn't attempted to work it out but HL are quoting a yield of 2.03% which is what gave rise to my comment as I'd just looked at that :roll: If it's currently yielding approx. 6.5% that's largely because the s.p. has come down a lot, isn't it? That would be about 4.35% on my original investment which is all that interests me as I don't intend to buy any more. Still not a bad yield in general but certainly doesn't compensate for loss. However, I haven't lost anything till I sell so let's hope Andy Pandy is right.

PinkDalek
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Re: Air Partner

#220662

Postby PinkDalek » May 10th, 2019, 1:55 pm

Bouleversee wrote:I will tot up my divs. since purchase but they won't amount to anything like that. How do you work out current yield when the price is so volatile?


I based the yield very roughly using a mid of 86.0p and using the now known total dividend for the year of 5.60p. Using the bid would, of course, make the yield look higher, at about 6.8% and, conversely, the offer about 6.2%.

I overegged the dividends received/receivable as I'd forgotten I doubled my holding at some stage last year, thus double counted the dividends I may have received. The joys of ISAs are such that I don't keep a full record of dividends received. Taking into account what I've received and the final due in July, approximately 50% of my loss could be said to have been recovered in dividends. I know I'm kidding myself but I'm relatively comfortable in continuing to hold.

As for Buffett, I had seen his comments re the UK. I somehow doubt he'll bother to open the petty cash box for some £45/£75 million (he was talking of an 'appetite ... for making a very large acquisition in the UK') but would be more than happy if AndyPandy is proved right (at £75 million).

Btw I mentioned to you off-board that I'd had a dabble on Lighthouse Group plc for no valid reason. Since when there's been a takeover and the deal was approved today, which should result in a reasonably quick 25%. At least that goes some way to offset some of my more recent AIM losses, two of which we share.

Edit:

but HL are quoting a yield of 2.03%


They are wrong and don't show their workings https://www.hl.co.uk/shares/shares-sear ... -1p-shares. I think they've failed to include this year's final.

PinkDalek
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Re: Air Partner

#221566

Postby PinkDalek » May 14th, 2019, 1:20 pm

Bouleversee wrote:I suppose we'll have to wait for the Annual Report to see what has happened to directors' earnings, bonuses etc. during this period.


Now available here:

https://www.airpartner.com/globalassets ... t-2019.pdf

Page 56 onwards should cover what you are interested in.

One aspect that I have seen others were looking for is covered by:

During the year, Neil Morris resigned as CFO effective 13 April 2018. No bonus was paid to Neil Morris in relation to 2018 performance. Neil received pay in lieu of notice but received no severance payment. As per the LTIP rules, all unvested LTIP options lapsed on 13 April 2018 and no compensation was paid for them.

His pay in lieu of notice is disclosed on pages 71 and 72 (although the amounts do not appear to match).

Exceptional and other items are detailed in note 7 on page 114.

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Re: Air Partner

#232139

Postby PinkDalek » June 26th, 2019, 11:38 am

As mentioned in MrC's Smallcap Sweeps for June 2019:

Air Partner plc, the global aviation services group, holds its Annual General Meeting today. At the meeting, Ed Warner, Chair, will make the following statement:

"While the operating environment remains challenging, impacted by increasing protectionism, Brexit and headwinds across the global aviation industry, the Board remains confident that Air Partner will achieve current market expectations. However, profits are likely to be more weighted to the second half than in previous years, owing to the timing of major contracts. The global charter business has consistently been, and will continue to be, a volatile industry. Against this backdrop, we manage the business for the long term, with a very clear strategy of alignment to the needs of our global customer base.

The continued hard work of our people worldwide has provided a platform for ongoing sustainable growth. As a result, we remain focused on the organic and investment opportunities for both our Consulting & Training and Charter divisions. We continue to believe in our long-term growth plans and we are confident in our ability to fulfil them."


From https://www.investegate.co.uk/air-partn ... 700064154D

Whatever the current market expectations are, the market hasn't reacted well to the statement.

XFool
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Re: Air Partner

#232500

Postby XFool » June 28th, 2019, 10:47 am

From a share price POV, at least, this seems to be going tits-up at the moment.

Do people here think this is just a spot of local difficulty - the past accounting problem - or something more substantial going wrong? e.g. Growing competition, dubious diversification?


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