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Air Partner exec sees tough times ahead

Air Partner chief executive David Savile forecasts that the economy will not make it easy for the company for the year, and maybe even the next.

He mentioned that the cut backs on luxury travel have been dreadful for Air Partner, the world’s largest supplier of charter aircrafts. 

In the last six months to the end of January, pre-tax profits dropped 17pc to £3.2m on sales down 2pc to £107m. The latest industry figures suggest that demand for private jet hire is down to 50pc in the US and down 20pc in Europe. 

Air Partner’s private jet division has collapsed with a £153,000 loss. 

Savile claims that the drop should be attributed to a decline in corporate hire, particularly among banks; auto companies for what he says are “obvious” reasons.