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August 15, 2008

Air Partner Projects Profit To Rise 20-30 Percent

By Pardhasaradhi Gonuguntla

LONDON, England — Private jet company Air Partner Plc (AIP.L: Quote, Profile, Research, Stock Buzz) said it expects its full-year results to be ahead of market expectations thanks to trading conditions, and the outlook remains good for the longer term, according to Reuters.

The group also expects its pretax profit and sales for the year to July 31 to be ahead of last year by about 20 percent and 30 percent, respectively.

The results reflect the continued strength of the private jet market as elite travelers are not deterred by higher costs to fly privately due to fuel prices. At the same time, most commercial carriers are seeing dramatic decreases in profits.

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