Air Charter Service opened its fiscal year with a strong first-quarter performance, supported by a sharp rise in cargo charter activity.
The UK-headquartered charter broker reported revenues of $380m, up 35% year on year, while total charter volumes increased by 19% compared with the same period last year.
Cargo was the clear growth engine. Founder and chairman Chris Leach said ACS’ cargo department recorded more than 70% additional charters year on year, with revenues rising 41%.
Part of this growth was linked to disruption caused by the conflict in Iran, as well as the impact of Storm Marta and the port closures it triggered in Morocco.
The company also saw growth across other divisions. Private jet flights increased 13%, with revenues up 27%, while group charter activity rose 40% in both flights and revenues, supported by increased flying from the Middle East.
ACS Leasing also delivered a strong start to the year, with major contracts allowing the division to exceed last year’s full-year revenue after only three months.
The company’s Time Critical Services business also gained momentum, with contract numbers up 52% and revenues increasing 101%, supported by onboard courier and next-flight-out activity under a new leadership team.
Leach said the outlook remains difficult to predict, describing the current environment as the most uncertain period since Covid. However, he added that ACS’ global footprint, diversified activities and broad client portfolio leave the company well positioned for the months ahead.
