Strongest ever half-year financial figures for ACS

posted on 15th August 2018 by Justin Burns
Strongest ever half-year financial figures for ACS

Air Charter Service (ACS) has posted record half-yearly figures for the six months ending 31 July as revenue grew by 23 per cent to £240.5 million ($312 million) fuelled by the FIFA World Cup and cargo contracts.

Revenue for the six months was up on the £195.2 million ($253 million) in the same period last year.

ACS’s chief executive officer, Justin Bowman (pictured above) said ACS had a “stunning first six months of the financial year” with record numbers across the board. He added: “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.”

Bowman said cargo charters helped boost performance: “Our cargo contract numbers increased by a staggering 21 per cent so far in 2018 – compare this to IATA’s half year figures, which show that the airfreight industry grew by just four per cent in the first six months of the year. Demand was generally for slightly smaller aircraft, so revenue grew by just 15 per cent.”

As for other divisions, he said: “Our Private Jets division is still the largest part of the business and saw a 32 per cent increase in revenue in the first six months of the year. Our Commercial Jets division also showed solid growth, with a 25 per cent 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.

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.”

This year, ACS has 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 Bowman said it will be announcing another new office in the coming weeks.

He added: “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.”