The Lemon Fool

You reckon?

Bouleversee wrote:You reckon?

Definitely.

All good clean fun, I guess. Given all's fair in love, war, investing (or not) and business!

I did flag 'this' up originally on here to PinkDalek in an earlier post as (to my mind) a curiosity. Little did I know then how it would (apparently) turn out.

As you were:

Coronavirus triggers boom in private jet inquiries
https://www.bbc.co.uk/news/business-51527042

PinkDalek wrote:As you were:

Coronavirus triggers boom in private jet inquiries
https://www.bbc.co.uk/news/business-51527042

WTF?

I've started thinking now that the main (only?) reason for holding this share must surely be the entertainment value.

I AM NOT AN INSIDER (Honestly!)

Meanwhile, over on the ADVFN AIR thread, looks like things may have returned to 'boring normal'.

Not only that but some were barking up the wrong tree, as you'll have seen. As previously, yes you mentioned ADVFN a while back but I tend to ignore much of what is written there and it is most certainly not a regular haunt of mine. It would help though, when mentioning ADVFN threads, if a link were provided:

https://uk.advfn.com/stock-market/london/air-partner-AIR/share-chat

Not a recommendation to go there of course!

PinkDalek wrote:It would help though, when mentioning ADVFN threads, if a link were provided:

https://uk.advfn.com/stock-market/london/air-partner-AIR/share-chat

Unless it's after hours that's less than useful, as you will be timed out! Even if logged in as a free user.

I made no link as anyone actually interested can log in, or register for free, via the main site themselves and find the AIR Free BB. Anyone not interested, won't.

Anyway, as I said previously, it looks like the fun is over. For now.

I've no idea about being timed out. I click on the link I provided and it works. I've never been registered nor, therefore, been logged in out. Perhaps that's the difference.

Yes, it is easy to find the thread and just as easy to link to it, to save others the time, especially when one has looked at it oneself fairly recently.

PinkDalek wrote:I've no idea about being timed out. I click on the link I provided and it works. I've never been registered nor, therefore, been logged in out. Perhaps that's the difference.

"by PinkDalek » February 20th, 2020, 5:27 pm"

Same for me @5:43pm! That's surely "the difference"? (See my previous post).

PinkDalek wrote:Yes, it is easy to find the thread and just as easy to link to it, to save others the time, especially when one has looked at it oneself fairly recently.

My "link" would require somebody to be a member. I can't know who here is or isn't a member of ADVFN. If they are a member it doesn't take much time to find it via the given EPIC (AIR). If they aren't, they'd have to spend time joining up to ADVFN anyway.

Zzzz!

PinkDalek wrote:As previously, yes you mentioned ADVFN a while back but I tend to ignore much of what is written there and it is most certainly not a regular haunt of mine.

Yes, I get that. The point being this felt like, IMO, something beyond the "much of what is written there" ADVFN usual (so it proved). At the time I wanted the opinion of somebody else (somebody sensible?) with an 'interest' (!) to benchmark my own 'feeling' on the matter.

Anyway - I guess you had to be there.

Hello again!

(One last time?)
Keven Baines, founding director of Baines Simmons, just logged in one last time to clarify his intervention and finally signed out, wishing us well.

Yes, I can read that here and now https://uk.advfn.com/stock-market/london/air-partner-AIR/share-chat (as I could out of hours last night). All mildly interesting.

Many holders will already have seen and as mentioned by MrC in his morning Smallcap sweep.

Air Partner PLC AIR Shareholder Update Released 07:00
RNS Number : 3185I 01 April 2020

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AIR/14486187.html

Including The current indication is that the Group has delivered around £2.4m of underlying profit before tax in the first two months of the year, as new business wins from the crisis, such as repatriation contracts, have outweighed a decline in Safety & Security and European private jet charter during the pandemic. and At the end of March, the Group has normalised cash in the bank of £6.5m, excluding significant customer deposits and JetCard cash. The Group has access to a total debt facility of £14.5m, comprising of a £1.5m overdraft and a £13m revolving credit facility (RCF), which is drawn down by £11.5m as at 1 April 2020. The RCF is due to expire in February 2023. but best to read the entirety.

Note also This is the second update to be given during the COVID-19 pandemic and will be followed by shareholder updates approximately every four to six weeks during the crisis. and We expect our next update will be provided with Air Partner's full year results in May..

The first RNS update was as below on 18 March 2020 but wasn't mentioned on this specific thread:

AIR PARTNER STATEMENT - COVID-19 UPDATE
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AIR/14465884.html

Castlefield Fund Partners (Buffettology Fund) at 0.00%, noting the dates (my bold):

Date on which the threshold was crossed or reached: 20th March 2020
Date on which issuer notified (DD/MM/YYYY): 31st March 2020

Now off to read https://app.stockopedia.com/content/small-cap-value-report-wed-1-april-2020-nxr-air-cgs-rnwh-tst-585453 ...

Shareholder update.

https://www.investegate.co.uk/air-partn ... 00068906L/

AIR is releasing updates every 4-6 weeks. It has had a chequered history, so it's rather nice that it it being proactive with keeping investors updated regularly. Some smaller Cos are less forthcoming.


Summary (my bold):

The Group has had a strong start to the financial year, with the unaudited accounts for February, March and April showing expected underlying profit before tax of £6m. April was a record month, predominantly driven by unusually high levels of activity in Freight and Group Charter. However, as expected, activity in Private Jets and Safety & Security remains notably lower than in previous years, although Redline has recently secured two new security contract wins.

Up about 25%. Relief rally?
I'm still underwater with them, but significantly less underwater than I was yesterday.

AndyPandy wrote:I'm still underwater with them, but significantly less underwater than I was yesterday.

How about now?:

https://www.londonstockexchange.com/new ... e/14564710

Can’t readily provide an extract from here whilst on the move.

FWIW I'm still underwater to the tune of 32.34% on this one. Do you know what is happening about the dividend which I don't think was mentioned there?

I don't think the Full year results for the year ended 31 January 2020 got a mention on TLF but they included:

Dividend

In response to the ongoing COVID-19 pandemic, like many companies, we are tightly managing costs across the Group to preserve cash, maintain sufficient working capital to support increased customer demand and ensure that the business is well placed to emerge from the crisis with a strengthened competitive position. These measures include temporary salary reductions for all Board members and the UK workforce. In line with this, the Board has decided not to recommend a final dividend payment. However, the Board recognises the importance of regular dividend payments to investors in forming part of their total shareholder return and will re-evaluate the payment of dividends once the risks related to COVID-19 have subsided and there is greater certainty on the Group's cash flows. We trust shareholders will understand that this is the right and prudent approach at this time of unprecedented uncertainty in order to manage the business with confidence through the crisis.

Source:https://www.investegate.co.uk/air-partner-plc/rns/full-year-results-for-year-ended-31-january-2020/202005220700066947N/

Thanks again. Rather what I was expecting.

PinkDalek wrote:

AndyPandy wrote:I'm still underwater with them, but significantly less underwater than I was yesterday.

How about now?:

https://www.londonstockexchange.com/new ... e/14564710

Can’t readily provide an extract from here whilst on the move.

Current trading overview

As previously reported, April was a record trading month for the Group. The business has continued to perform well ahead of budget in May. For the first four months of the year, the unaudited management accounts show an expected underlying profit before tax of GBP7.5m, predominantly driven by high levels of activity in our Freight and Group Charter divisions. The forward order book for June is also strong, with continued demand for Freight and Group Charter services. We are now also seeing some early signs of recovery within Private Jets and Safety & Security.

Happy days. They have turned black if you include dividends, black without dividends included is in sight. They seem to be having a stonking year so far insofar as they have benefited from the flight (ha ha) to private jets and additional CV work.

In retrospect they were unfairly driven down to crazy valuations, but I was already too overweight to seriously consider topping up and just rode it out. Glad I did, rather than panic selling (thank you TMF, TLF and PYAD for, if nothing else, reducing my churn rate by about 90% over the last Decade or two).

Based on current trading I think there is still a serious mismatch (on the upside) between valuation and the monthly profits rolling in). Market Cap 43M (inc. £4.6M non-Jetcash cash), PBT for Jan - April £7.5M. Hang on in there Bouleversee.

Post £7.5m Open Offer now - 'To Repay Debt From Redline Buy'

Did anyone here participate via PrimaryBid? First time I had ever heard of it: https://www.primarybid.com

By the time I got around to seeing the email it was all over bar the shouting, or the counting. Anyway, as I gathered you have to pay by debit card, that might well be a problem as it would take a day or so to transfer funds into the DC account.