Leading aircraft charter specialist, Air Charter Service, has revealed the company's half year results for the six months ending 31st July 2018, which show revenue is up 23%, from £195.2m (US$253m) to £240.5m (US$312m).
ACS's CEO, Justin Bowman, commented: "We have had a stunning first six months of the financial year, with record numbers across the board. Especially when you take into consideration that last year's figures were beyond our most optimistic projections and they were boosted by a number of one off events.
"Our Private Jets division is still the largest part of the business and saw a 32% increase in revenue in the first six months of the year. Our Commercial Jets division also showed solid growth, with a 25% jump in revenue.
"Our involvement in the FIFA World Cup has particularly helped with the Commercial Jet figures, but all divisions won contracts in relation to the tournament. In total we arranged more than 300 contracts for the World Cup. We flew everything from team kits, to tens of thousands of football fans, plus many of the teams themselves. Our Russian offices played a huge part in enabling us to win so much business over June and July.
"Our cargo contract numbers increased by a staggering 21% so far in 2018 – compare this to IATA's half year figures, which show that the airfreight industry grew by just 4% in the first six months of the year. Demand was generally for slightly smaller aircraft, so revenue grew by just 15%."
Bowman concluded: "As of the turn of the year accounts, we have been able to say that ACS is now the largest charter brokerage in the world and we are delighted that we are building solidly on that. We have opened offices in Manhattan and San Francisco, as well as a dedicated Onboard Courier operation in Frankfurt, in the first half of the year, and we will be announcing another new office in the coming weeks.
"There is an exciting second half of the year in store here, with some brilliant new technologies that we are working on, as well as a focus on further improvements in customer service."
About Air Charter Service
We are a global company with 22 worldwide offices, spanning all six major continents and we offer private jet, commercial airliner and cargo aircraft charters, as well as onboard courier solutions. We arrange almost 15,000 contracts annually with revenue of close to 700 million dollars. We were formed in 1990 by Chairman Chris Leach and CEO Justin Bowman in a basement, and we now employ more than 400 staff worldwide.
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