Private jet company reports nosedive

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AIR Partner, which provides clients with access to private jets, yesterday said profits for the year to 31 July fell 57 per cent to £4 million, after all areas of its business were impacted by "very weak" trading conditions.

Chief executive David Savile said significant progress had been made in resizing the business to suit current trading conditions. He recommended a final dividend of 30.7p, up by 2 per cent on the previous year.

But shares in the company dropped by 4.6 per cent or 27.5p after the fall in full-year profits, ending the day at 570p.