Air Charter Service has reported that they have had a strong 2016 and are hoping for the same success this year. The leading aircraft charter specialist has reported that they experienced an 8% increase in their revenue. This percentage increase in revenue is the equivalent of £342 million by the year end which was 31st January 2017.
The aircraft specialist announced that they have arranged nearly 12,500 contracts over the course of 2016 and the company managed to generate the strong growth levels. This 8% growth is a good result for the company and was evenly spread across Air Charter Service’s 20 offices around the world. This is good news as it meant that they are doing well across the board and not just in one area. There has also been an improvement for Air Charter Service at their Russian offices, which is reassuring after the company has been weathering the recent economic troubles in the region.
It is thought that in the last financial year, Air Charter Service managed to undertake a lot of business which was for a high turnover and large aircrafts. This business took place mainly during the Port strike on the US West Coast that took place in early 2015. This work may have slightly skewed the aircraft charter service company’s Cargo department figures. Because of this unexpected available work in 2015, and no exceptional events in 2016, the company’s Cargo department experienced a drop in turnover even though the underlying revenue increased by 5%. The volumes for the company was also up in 2016 as there was a 6% increase in cargo charter contracts gained by the company and they also had over 1,000 onboard courier jobs which was a growth of 60%in comparison to last year.
After positive results across the board for the company, Air Charter Service is positive about the results they see at the end of the current year.
