Air Partner Private Jets Logs $4M Loss

The Private Jets division of charter broker Air Partner suffered a £2.5 million ($3.9 million) loss in its fiscal year that ended on July 31. Overall, the UK-based group saw profits before tax fall 57 percent to £4 million ($6.4 million) on sales that were 23 percent down at £194.3 million ($309 million). In its financial results, Air Partner reported that it had to downsize the private jets business in response to a 21-percent dip in its sales to £46.4 million ($73.7 million).