You are here
Home > Aviation > Air Charter Service’s cargo charters soar in 2017

Air Charter Service’s cargo charters soar in 2017

The increased demand for airfreight services in 2017 appears to have translated into bolstered demand for cargo charters. U.K.-based charter broker, Air Charter Service (ACS), reported revenues of U.S. $677million for its fiscal year 2017 that ended on Jan. 31, a 39 percent year-over-year increase over 2016.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) meanwhile, outpaced revenue growth with a 100 percent increase, to $19.6 million.

Cargo charter flights, which accounted for about one-third of ACS’ 15,000 contracts in 2017, jumped by 11 percent year-over-year, to 4,300 contracts.

Andy Christie, Group Director of Private Jet Charters at ACS added, “Many of the contracts that we fly are round trips or multi-sector, meaning that in terms of actual flights, the number is well over 15,000.”

ACS cargo charter operations benefitted from both strong underlying demand, as well as one-off boosts resulting from the hurricanes that swept through the Caribbean and southern states of the United States.

For more Logistics News,    Follow us on TWITTER       Follow us on FACEBOOK

CEO Justin Bowman said, “Our cargo figure of £213 million ($300 million) was somewhat boosted by charters related to the hurricanes in the Caribbean and the southern States of America, along with other one-off contracts, but underlying growth is still impressive.”


Similar Articles