Royal Jet Release First Quarter Performance Figures with 15 Percent Increase in Revenues
Abu Dhabi, Royal Jet announced the previously released strong performance for the fourth quarter of 2011 continued in the first quarter of 2012 as the private jet operator recorded a 15 per cent increase in revenue over the same period last year. The highest first quarter in Royal Jet's history.
According to Royal Jet it attributes the performance to "increasingly buoyant market conditions across all customer segments, emerging strong growth in Asia and Saudi Arabia as well as continued productivity improvements."
Shane O’Hare, President and Chief Executive Officer of Royal Jet said:
“The strongest growth was in our jet charter business, driven by our aggressive sales strategy. Our brokerage, Medevac, aircraft management and Fixed Base Operation divisions also performed well. We have fed this growth through to the bottom line through continued tight cost controls, although there is still serious pressure from fuel costs and uncertainty in global markets. However, we are optimistic that the worst is behind us.”
O’Hare is confident that forward demand is strong well into the second quarter, further underlying the operator’s business recovery and continued: “Although it may be premature to say that the global economy is on the path to steady recovery from a devastating international financial crisis, the outlook is positive,” he said. “We are continuing to build strongly on our benchmark global service platform this year with the investment of $10 million in the interior refurbishment of another of our six Boeing Business Jets.
“We are optimistic that this level of business performance will continue throughout the year, helped by factors such as increased private jet travel during the summer period, air travel in connection with the Olympics and other sporting highlights, as well as the consistent demand for Medevac flights within the region and beyond.”
Royal Jet recorded a 226 percent increase in net profit in 2011 out of total revenues that increased by 31.2 percent over 2010.Source: Royal Jet