Corporate air charter firm Air Partner has seen sales from commercial jet broking decline over the last year amid global uncertainty.
The company is expanding its reach outside the UK with new general sales agency agreements across Hungary, Poland, Slovenia, Ukraine, Greece, Cyprus and Switzerland.
Air Partner is also in discussions towards establishing services in Asia.
CEO Mark Briffa, will tell the company’s annual general meeting today: “When Air Partner published its annual results in October the board noted that the aviation sector was likely to be affected by continuing instability in the primary world markets.
“This has proved to be the case, with a number of airline operators and travel companies reporting financial difficulties.
“Against this backdrop of a very difficult trading environment, Air Partner remains stable and continues to trade profitably.”
Current trading remains satisfactory, with net cash reserves of just over £8 million, up from £7.2 million in July, the company said.
“Looking ahead, the board remains cautious in its assessment of prospects for the current year, given the continued economic uncertainty and the lack of visibility characterising the industry,” Briffa will say.
“Nevertheless, planned investment is continuing, bringing into the team experienced professionals with a strong sales focus and industry-wide connections, and the board remains confident in the long-term growth prospects for Air Partner’s key markets.”
He added: “The group is making progress in its strategic aim of increasing the contribution from operations outside the UK. Our US business continues to show early signs of improvement, as investments made over the last 12 months start to have a positive impact.”