Air Charter Service has reported record first quarter results, with revenue rising by more than 35 percent year on year to reach US$380 million.
The company said overall charter numbers increased by 19 percent across all divisions during the first three months of its financial year, which began on 1 February.
Chris Leach described the performance as a record opening quarter for the business, with growth recorded across private jet, group charter, cargo and specialist services operations.
Private jet activity delivered underlying charter growth of 13 percent, while revenues rose by 27 percent. The company attributed the increase partly to higher value contracts involving larger aircraft and longer sectors, as well as evacuation flights from the Middle East. Rising aviation fuel prices also contributed to higher revenues.
The group charter division recorded a 40 percent increase in both charter numbers and revenue, supported by evacuation flights arranged for governments and multinational companies operating in the Middle East.
Cargo operations saw the strongest increase in charter activity, with flight numbers rising by more than 70 percent and revenues up 41 percent compared with the same period last year. ACS said supply chain disruption linked to the Iran conflict, along with the impact of Storm Marta and related port closures in Morocco, contributed to increased demand.
The company also highlighted strong performances from its leasing and time critical services divisions. ACS Leasing has already surpassed its total revenue from the previous year, while Time Critical Services reported a 52 percent rise in contract numbers and revenue growth exceeding 100 percent.
Despite the strong start, the company said ongoing geopolitical uncertainty continues to make market conditions difficult to predict for the remainder of the year.
