Air Charter Service reports 35% revenue growth in Q1
ACS reported record first-quarter results, driven by strong growth in cargo and group charter operations amid supply chain disruptions and long haul flights.
Air Charter Service posted a strong first-quarter performance, with charter activity increasing and revenue rising more than 35% year-on-year to $380 million.
Air Charter Service said the company delivered record first-quarter results across all divisions, with overall charter volumes rising 19% and revenue increasing 37%.
Excluding several large ongoing contracts, underlying private jet charter growth stood at 13%, while revenues climbed 27%. According to Leach, the increase was driven by higher-value contracts involving larger aircraft and longer-haul sectors, alongside multiple evacuation flights from the Middle East. He also noted that higher global aviation fuel prices contributed to the revenue growth.
Chris Leach, ACS’s Founder and Chairman, said, “The strongest growth in terms of charter numbers, out of our three main divisions, came from our cargo department, which saw over 70% more charters than the same period last year, and revenue up by 41%. In part, these increases were due to supply chain disruptions caused by the conflict in Iran, as well as the repercussions of Storm Marta and the port closures that it caused in Morocco.”
ACS mentioned that their group charter division delivered a strong performance, with both charter activity and revenue rising by 40%. This growth was supported by evacuation flights from the Middle East for several governments and multinational corporations, while the division’s underlying growth also remained robust.
Leach said the strongest growth among Air Charter Service’s three main divisions came from its cargo business, which recorded more than 70% growth in charter numbers and a 41% rise in revenue compared to the same period last year. He attributed part of the increase to supply chain disruptions linked to the conflict in Iran, as well as the impact of Storm Marta and resulting port closures in Morocco.
Leach added that ACS Leasing also delivered exceptional results, with several major contracts already pushing revenue beyond last year’s total. Meanwhile, the company’s Time Critical Services division reported a 52% increase in contracts and a 101% surge in revenue during the same period.
Commenting on the outlook, he said ongoing geopolitical tensions, including the fallout from the Iran conflict, have created one of the most uncertain market environments since the Covid pandemic, making it difficult to predict the future direction of the charter sector. However, he noted that the company’s global presence, diversified operations, and broad client base position it well to navigate the challenges ahead.
