April 24, 2024
Air Charter Service saw revenues for the first half of 2022 increase to $770 million.
For the six months ending July 31, 2022, sales spiked 49%.
It follows a record year in 2021 that was backloaded.
Founder and Chairman Chris Leach said, “Last year was our record year, with revenue of $1.8 billion, but at the halfway point, we weren’t in as good shape as we are for this one.”
Leach added, “All three divisions of cargo, private jets, and group travel have truly outdone themselves…Different divisions and regions peaked at different times over the last two years, but for this year so far, the peaks seem to have come all at once.
Private jet charter revenue was up 56%. The gains were driven by the return of long-haul travel, according to the company.
Its jet card and on-demand charter business are 25% ahead of pre-pandemic levels in 2019.
Regionally, Air Charter’s largest market for private jets remained the U.S., which saw 57% growth in revenue.
All regions except Russia/CIS, where ACS withdrew, had at least 45% growth.
Looking ahead, Leach said, “We expect that much of the market will slow down in H2, and we do not expect to see anywhere near the level of growth we saw in H1. However, we expected the same for H1 of this year, and look where we are, so I guess there is all to play for in the remainder of the year.”
The company has 29 offices across six continents.
