Air Charter Service reports first quarter results

Eleanor Steed
By Eleanor Steed June 14, 2017 17:22

Air Charter Service reports first quarter results

Aircraft charter specialist, Air Charter Service, has reported a very strong first three months of 2017 with a 24% increase in revenue year on year.

Justin Bowman, Group CEO, commented: “Our financial year runs from February 1st, 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% 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% 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%.

“Our real star performers were our Far East offices, which have enjoyed a 72% increase in charter numbers since February 1st, 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% increase in volume over the period, buoyed by increased private jet demand.”

Eleanor Steed
By Eleanor Steed June 14, 2017 17:22