Air Charter Service reports a good start to 2017
Jun 13, 2017: Air Charter Service has reported a very strong start to 2017 as the company has seen 24 percent year on year increase in revenue in the first three months of 2017.
Justin Bowman, Group CEO, commented, “Our financial year runs from February 1, so these results are for the first three months, to the end of April 2017. We had a significant increase in terms of turnover and profit – both more than 20 percent 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. Our volume of bookings increased by a very healthy 11 percent 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 percent.
The charter specialist says that its real star performers were our Far East offices, which have enjoyed a 72 percent increase in charter numbers since February 1, spread well across all three divisions, but 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 them with a 53 percent increase in volume over the period, buoyed by increased private jet demand,” informed the company through a statement.
Photo: Justin Bowman, ACS