AIR PARTNER

11 October 2012 – final results

As expected the challenging market conditions continue for Air Partner. The group reported revenue of £227.6m (2011: £281.9m) and profit before tax of £4.1m (2011: £5.3m). Although revenue and profit before tax were down year on year the group continues to trade profitably and has raised the dividend for the year by 10% to 18.2p reflecting the strong cash reserves of £15.7m. We believe that Air Partner are in a strong position to benefit from any up turn in the market. The dividend yield of 7% should provide some downside protection. BUY FOR RECOVERY

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