Air Charter Service sales up 24%, profit by 20% in 3 months
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.
Tag Keyword: Air Charter Service , Revenue , Air Cargo , Jets