Global aircraft charter broker Air Charter Service (ACS) reported sales of $1.8 billion (£1.3 billion) for the year ending January 31, 2022, driven by strong growth and record sales across all divisions.
"The company's global presence and diversified business model has proved highly attractive to existing and new customers navigating the travel and logistical issues presented by the pandemic," an official statement said.
The company's cargo division continued to experience huge demand as a result of its Chinese presence (three offices) and ability to source passenger aircraft for temporary use as freighters. "The well-publicised supply chain issues facing so many industries resulted in high demand for air freight but with continued capacity shortage due to the slow recovery of the scheduled passenger market which previously provided between 50-70 percent of global air freight capacity has driven demand towards charter. Whilst it is expected that cargo demand could drop off at some point as the backlog of goods eases, it is impossible to predict either when this will happen or what the fall in demand will be."
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