Top News

|  AAI pips GMR for Bhogapuram project  |    |  SWR and JSW Steel sign MoU for long-term tariff contract  |    |  Shanghai Port handles 3.44 m TEU in July  |    |  Cathay Pacific carries nearly 14% more cargo in July 2017  |    |  Port of Riga handles 13.8 % rise in box volumes in first 7 months of 2017  |    |  VPT handles 22 mt cargo during first 5 months of FY 2018  |    |  Japan exports rise 13% to USD 59 billion in July  |    |  Asia-Europe rate drops 1.4% to USD 918 TEU, off 1.2% to USWC  |    |  Coal imports at Major Ports down  |    |  Alliance Air to start 4 new services from August 30  |    |  Milaha to start Direct container service between Qatar & Kuwait  |    |  Port of Virginia container volume increases 7.5% in July to 234,230 TEU  |    |  Cosco container terminals increase July volumes 17.3% to 7.6 million TEU  |    |  Oakland handles 209,883 TEU in July, increasing port volume 1.6%  |    |  Container volume up 13.8% in Riga to 245,200 TEU in first 7 months  |    |  SpiceJet hikes excess baggage fee on local fights  |    |  Major Ports profit to rise 40 % this fiscal at INR 7000 crore in FY 2018  |    |  Foreign operators to be invited to develop Bangladesh ports  |    |  NMPT chief highlights green initiatives  |    |  MOL restarts Wellington (NZ) Port call  |   
You are here: Home » International News » Aviation» Air Charter Service sales up 24%, profit by 20% in 3 months

Air Charter Service sales up 24%, profit by 20% in 3 months

19 June 2017 | Hong Kong


Air Charter Service (ACS) has posted a 24% year-on-year increase in revenue in the three months to the end of April.

ACS chief executive Justin Bowman said, "We had a significant increase in terms of turnover and profit - both more than 20% up on the same time last year across our 20 offices.”

"The company's accounts are published in sterling, so like most charter companies with an international presence, our financial results have been affected by the post-Brexit exchange rates."

Bowman said that "Our volume of bookings increased by a very healthy 11% compared to 2016, and we feel that this figure is more indicative of how well the year has begun for us in terms of market share. Flight numbers for our largest division, private jets, are up 18%.”

The charter specialist said that its top performers were its Far East offices, which enjoyed a 72% increase in charter numbers since the company's new financial year started on February 1, spread well across all three divisions. They have been particularly busy on the cargo side.

"The 'recovery' region has been our CIS offices in Moscow, St Petersburg and Almaty, which seem to be putting recent economic troubles behind with a 53% increase in volume over the period, buoyed by increased private jet demand," the company said in a statement.

Transreproter Logo