HALF YEAR RESULTS 2011

Air Charter Service has reported strong growth in the first half of 2011, with revenue increasing by 20%. And the company has arranged almost 3,000 charter contracts in the first six months of the year – an increase of around 20% on the previous year. ACS Chairman Chris Leach commented: “All three of our divisions; Cargo, Commercial Jets and Executive Jets, showed very strong growth last year, and our international operations all performed well. This year our passenger business has grown more rapidly than the cargo side and now accounts for more than 50% of total revenue for the first time in our history. Our Commercial Jets department results for the first half of the year are up almost 150%. “The group continues to work with a variety of governments, corporate companies and high net worth individuals worldwide. We organised a huge number of evacuation flights for expatriates from Egypt, Libya, Tunisia and Japan in the first few months of this year, but the underlying growth is still strong, despite the recession.” The company currently has fourteen offices spanning five continents, providing an impressive global network. Leach added: “Our ever expanding number of offices is allowing us to offer innovative solutions to clients worldwide. We have local knowledge on a global scale and customers recognise the benefits of using us, rather than a company without such an extensive network. A lot of the growth over the past few years has been down the opening of new operations, including the two that opened their doors this year – firstly São Paulo and, more recently, Los Angeles.” Leach concluded: “This continued growth is testament to the hard work of our staff and the successful implementation of a number of management strategies - we are a cash rich company and reinvest heavily in our training and the treatment of our staff – which explains our exceptionally low staff turnover and place in The Sunday times 100 Best Companies To Work For list.”