Air Charter Service Group revenues surge to $1.2 billion

private jet

U.K. charter broker Air Charter Service (ACS) revenues spiked 86% in its latest financial year, breaking the billion-dollar mark for the first time

U.K.-based jet card and on-demand charter broker Air Charter Service Group (ACS) saw its revenues grow from GBP 476,741 to GBP 886,638. The results reflect its fiscal year that ended on Jan. 31, 2021. At the current exchange rate, that’s $1.2 billion in top-line revenues.

Clay Lacy, Jet Linx lead private jet CARES Act recipients

Clay Lacy Aviation private jet charter

Clay Lacy Aviation received $26.9 million while Jet Linx Aviation was given $20 million, according to U.S. Treasury documents

NetJets, Wheels Up, Flexjet, XOJET Aviation and related companies were notably absent from the Treasury Department’s list of COVID-19 aide recipients

See the full list of aviation companies receiving CARES Act Coronavirus financial support

In a list dated April 27th, the U.S. Department of the Treasury published names of 96 companies receiving some of the $32 billion earmarked to preserve aviation jobs. The list includes both airlines and private jet operators.

The act specified grants needed to be based on payroll expenses from April 2019 through September 2019, subject to proration. Funds must be used for the continuation of payment of employee wages, salaries, and benefits. 

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