Air Charter Service increases cargo flights in first half of 2018

United Kingdom-based charter broker Air Charter Service (ACS) has released its 2018 interim results, which show a 21 percent increase in scheduled cargo flights compared to the first six months of 2017. Also, revenue over the same period increased by 23 percent to US$312 million.

“Compare this to IATA’s half year figures, which show that the airfreight industry grew by just 4 percent in the first six months of the year,” said CEO Justin Bowman. “We revamped our onboard courier division three years ago and that also enjoyed a good year so far, with job numbers also increasing by 21 percent.” ACS did not reveal information about net income or operating profit figures for H1 2018; still, the company is growing at a rate above the industry average. Its 2017 report for the full year showed earnings before interest, depreciation, taxes and amortization (EBIDTA) increased by 100 percent.

“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,” Bowman said. “We have opened offices in Manhattan and San Francisco, as well as a dedicated OBC [on-board courier] operation in Frankfurt in the first half of the year, and we will be announcing another new office in the coming weeks.”