Air Partner PLC‘s (LON:AIR) shares edged closer to its five-year high after training arm Baines Simmons won an additional Ministry of Defence contract under the Safety Training for Error Prevention (STEP) programme.
Baines Simmons has already been working with the UK’s Military Aviation Authority on air safety for the past six years and this latest contract will include a framework for a number of sub-projects across the MOD.
The FTSE fledgling-listed aviation services group said the contract will span four years and is worth £2mln - £3mln.
Working in Partnership
Baines Simmons will work in partnership with engineering specialist Frazer-Nash Consultancy for the duration of the contract, which will have the option of two one-year extensions.
Mark Briffa, Air Partner’s chief executive, said this is an extremely important initiative for the MOD as it strengthens its safety processes.
“This contract win is a great start to 2018, following on from a successful 2017 in which we won a number of contracts with tier one national carriers, international civil airlines, the Royal Air Force of Oman and the European Defence Agency, among others."
Air Partner shares were up 6% at 150p, close to the company’s five-year high of 151.5p.