Shares of global aviation services group Air Partner PLC (LON: AIR) jumped on Wednesday morning after the company said it has performed ahead of market expectations for the full year ending 31 January 2021.
The London-based business that provides aircraft charter services and aviation safety solutions reported modest profits in the second half of the year.
However, despite global travel restrictions, brought on by the coronavirus pandemic, the company’s board now expects to announce an underlying profit before tax of no less than £11.5 million for the full year.
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Air Partner’s stock price rose to highs of 74p per share following the update.
Its shares have seen an uptick since hitting lows of 15.4p at the beginning of the pandemic in March, currently trading at 72p, up 7% from Tuesday’s close and just below the pre-pandemic level.