Connect with us

Top Stories

AIR CHARTER SERVICE RELEASES 2014 FINANCIAL RESULTS

asil

Leading aircraft charter specialist, Air Charter Service, has reported an extremely successful 2014 for all three of its divisions.

Chairman, Chris Leach, observes: “The figures across the board are extremely pleasing. Every department – private jets, commercial airliners, group travel and cargo – grew in terms of revenue and number of charters, and our overall turnover increased by 14% to £286m ($470m*) for the year ending 31st January 2015.

“I feel that these results reflect our continuous investment in our global infrastructure. We have hired top talent around the globe and are investing heavily in our IT systems and product offerings, as well as opening new offices – most recently Houston last year in May. It is very pleasing to see these investments pay off and we are planning three more offices to be opened in 2015.

Chris Leach

Chris Leach

“The results show a Group increase of 14% in revenue and 22% in charter numbers, and the growth appears to be continuing this year following a strong start to 2015, as we near the end of the first quarter.

“Profits more than doubled year on year, with our EBITDA rising from £2.2 million to £5.0 million, although previous years’ profits have been affected by reinvestment in our infrastructure. As a company of more than 20 shareholders, all of whom work at the company, we were able to make the decision to reinvest in 2013. It now appears that the decision paid off, with almost £40 million added to revenue in 2014.

“I believe that if we continue to invest and grow in the same way as we have been, we will achieve our ultimate aim of becoming the largest charter brokerage house in the world across all three sectors in the next five to ten years.”

*based on average exchange rate of 2014

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now