Aircraft charter specialist, Air Charter Service (ACS), has reported an increase in turnover (£316m) and a 28% increase in gross profit to £39.4m for the year ending 31 January 2016.
Chairman Chris Leach said: “To arrange more than 10,000 charter contracts and achieve a turnover of half a billion dollars is a remarkable feat and a fantastic way to end our 25th anniversary year. The strong increase was fairly evenly spread across our 20 offices worldwide, except for a downturn in our Russian offices’ fortunes, due to the troubles in that region.
“The cargo charter market continues to strengthen and our cargo department, in particular, has had a brilliant year.
“Our Private Jet division has enjoyed a steady year, growing its market share of charter volumes by 13% and gross profit by 19%, due to us breaking more into the larger aircraft market, compared to 2014.
“Again, aside from Russia which brought our global figures down, the growth is spread fairly evenly around our global offices with our UK, US and UAE offices the real star performers.”
The group restructured its Group Charter division last year and cut out unprofitable revenue streams. It has also revamped its websites and opened three new offices over the past 12 months, in Geneva, Miami and Sydney.
Recently ACS reported fulfilling an unusual event request: to move 200 designer dresses to France from Milan in time for Paris Fashion Week.
Justin Bowman, ACS’s Group CEO, said: “It quickly became apparent that the high-value garments were too delicate to be transported in a cargo aircraft. So the request was handed over to our passenger division.”