THE positive momentum from Royal Jet’s strong 2011 business performance has carried over into 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 best Q1 performance in its history.
“The strongest growth was in our jet charter business, driven by our aggressive sales strategy,” said Shane O’Hare, president and chief executive officer of Royal Jet. “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 said that forward demand is strong well into the second quarter, further underlying the operator’s confidence in business recovery. “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”, he added.
Royal Jet recorded a 226 per cent increase in net profit in 2011 out of total revenues that increased by 31.2 per cent over 2010.