ABS Jets increases operating profit by eight percent in “transition period”

                    
ABS Jets increased its operating profit by eight percent throughout 2012 to approximately $11.05 million
(47.2 million Czech Koruna*). The Czech private jet operator also posted a 20.5 percent growth in turnover and exceeded one billion CZK.

The company increased revenues from flight planning and flight support by 35 percent compared to 2011.

The number of planned and supported flights also increased by 14 percent, with ABS Jets carrying out flight planning for 800 more flight hours in 2012 when compared with 2011.

In 2012, revenues from ABS Jets handling in Bratislava increased by 19.8 percent. The company’s brokerage activities grew in 2012 with a doubling of revenue.

Thierry Barré, ABS Jets technical director, said: “For ABS Jets Technical Services, year 2012 can be seen as a transition period. The Implementation of “state of the art” maintenance software has required the reassessment and the upgrade of all internal processes and procedures. At the same time a program of intensive marketing activities has produced excellent results in the last quarter of the year with the arrival of a series of new customers for ABS Jets MRO services.”

Vladimir Petak, ABS Jets CEO, added: “We set new financial records in 2011, when you post such successful results it can be difficult to maintain momentum and continue to grow. I am pleased to report that we have exceeded our expectations and posted a very satisfactory set of financial results for 2012. When you consider the challenging European economic situation this is a major achievement on our part and a great endorsement of the work, standards and service we deliver at ABS Jets.”

*$1 = 19.84 CZK