Air Partner shares jump on trading outlook, HAECO drops
Shares in UK-based aircraft broker Air Partner spiked 7.4% in trading on Monday. The company announced earlier this week that it expects its fiscal year first half results to be ahead of estimates, due to the commercial jet broker performing particularly well.
- Air Partner's shares rose by 7.4% after announcing better-than-expected first-half results.
- The company's commercial jet broker division performed well, contributing to positive trading in the first half.
- Air Partner had previously closed its private jet operating unit in 2010 due to a decline in the private business travel market.
- Aircraft leasing companies, including ALAFCO, FLY Leasing, Aer Cap, and Willis Lease, experienced declines in their share prices.
- Aircastle shares saw a 1% gain.
- HAECO, a Hong Kong-based aircraft repair and maintenance services provider, saw a 2.9% drop in its shares.
The company noted trading remained positive in the first half, after being forced to close its private jet operating unit in Mar-2010, due to the slump in the private business travel market.
Aircraft leasing company shares were generally weaker, with ALAFCO, FLY Leasing, Aer Cap and Willis Lease all seeing declines. Aircastle shares gained 1%.
Elsewhere, shares in Hong Kong-based aircraft repair and maintenance services provider HAECO dropped 2.9%.
Selected aviation suppliers daily share price movements (% change): 31-Jan-2011
