Net profits up at Royal Jet

Net profits of Royal Jet in
2011 soared by 226% out of total revenues that increased by 31.2% from the
previous year. The record performance followed a programme of organised changes
that resulted in its best-ever result in its eight-year history and sixth
consecutive year of profitability.

“I am delighted to report
that 2011 was the most successful year ever for Royal Jet and by a considerable
margin – both operationally and financially,” said Shane O’Hare, president and
chief executive officer of Royal Jet. “As we examined every aspect of our
operations and made changes where we felt improvement was possible, we were
able to align more closely our commercial, operational and corporate activities
to become more agile in line with market needs. We implemented an aggressive
and well-segmented sales plan featuring a new and sophisticated yield
management program to provide our highest ever return on revenue block hours.”

O’Hare continued “That plan,
allied to the operational streamlining process, led to a significant gain in
productivity and a reduction in costs. Simultaneously, we were able to focus on
delivering better VIP customer service, further raising the benchmark for which
we have been recognized worldwide. This earned us the ‘World’s Leading Private
Jet’ award for an unprecedented fifth year in a row at the prestigious World
Travel Awards.”

The Royal Jet team recorded
improvements in the brokerage, Madevac, aircraft management and FBO. The
brokerage team had a 53% increase in gross revenue and the Medevac had a 65%
increase in revenue, flying 192 missions involving 309 patients.

“As the year 2011 brought an
enormous number of challenges on a global scale, achieving simple year-on-year
growth would count as a creditable performance for many businesses,” O’Hare
said. “Delivering a record year is an outstanding result. I would like to thank
our VIP clients, our business partners and our employees for making this
possible. We have by far the best staff in the private jet business worldwide
and their experience and professionalism in this kind of complex, precision
operation clearly shows in our results.”

“I would also like to thank
our chairman and shareholders for their support as we take pride in our role in
helping to deliver the strategic vision for Abu Dhabi,” O’Hare added. “While the economic
outlook for 2012 remains uncertain, I believe the strongest and most efficient
private jet operators will perform well. We have a number of new initiatives
planned for the year and I look to 2012 with confidence.”