Its global presence and diversified business model have proven to be very attractive to current and new customers tackling travel and logistics challenges during the pandemic.
The largest ACS division in terms of charters was again the business aviation division, which added nearly 40% year-on-year. This is 20% higher than the pre-pandemic level compared to the estimated increase in the number of flights, and a growth forecast of 7.5% indicates a significant increase in market share. This growth is attributed to ACS’ ability to deliver a variety of solutions to the market through its global network, rather than being confined to a narrow fleet of aircraft.
A record number of Jet Cards were sold last year, with sales 50 percent higher than 2019 levels and usage increased by doubling Jet Card revenues.
Despite declining revenue from the event-related charter business and leases to airlines, which continue to reduce flight volumes, the company’s group charter division grew 20 percent year-over-year and is now up to 93 percent from previous levels. With many long-haul routes still being shortened or suspended by major regular airlines and the need for capacity increasing intermittently, an increase in the number of long-haul charters organized by the ACS group of charter flights led to a 40% year-on-year revenue growth, reaching a record high (+10% by 2019).
Growth in sports charters grew 35% year-on-year, and the workforce logistics business continued to be strong, at more than 150% compared to pre-pandemic levels. The freight division continued to experience unprecedented demand for its services, especially due to its significant presence in China (three offices) and ability to find passenger aircraft for temporary use as cargo. While cargo demand is expected to fall at some point as orders dwindle, it is impossible to predict when that will happen and what the drop in demand will be.
At the end of the previous fiscal year, we predicted that it would be extremely difficult to maintain sales at last year’s level. Therefore, for our team, the 45 percent growth and $1.8 billion turnover are incredible achievements and the greatest pride I have felt in the 32 years since I founded Air Charter Service.
