Private charter carrier Air Charter Service (ACS), which just turned 25, had a good reason to celebrate its anniversary after released performance figures for the first half of 2015. Thanks mainly to increased cargo business ACS reported a revenue increase of 41 percent for the six-month period ending July 31.
“The strong figures have been evenly spread around the world,” said CEO Chris Leach. “The only region in which we didn’t see growth was Russia, so results would have been even better if it were not for the current troubles there.” He also said the cargo department’s revenue increased 60 percent in the first half.
ACS, which is privately held and does not report full financial data, said it is “debt-free,” with US$17.8 million worldwide at the end of the half, up from close to $10 million in 2014, a 33 percent increase, year-over-year, according to Leach. He said the company also carried out some restructuring which helped the bottom line.
Additionally, the company has reinvested in its global infrastructure, including opening new offices with two more planned, which will bring the total number of global offices to 20.
“We are also diversifying our service offerings with our new on-board courier division, aircraft sales division and Air Evacuation Plan department, all of which complement our existing revenue streams,” Leach added.
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