Royal Jet outperforms 2012 forecast with significant revenue increase
- United Arab Emirates: Tuesday, March 05 - 2013 at 16:17
- PRESS RELEASE
Royal Jet outperformed its 2012 forecast and its 2011 revenue per aircraft, with revenues increasing by more than 6% for Boeing Business Jets (BBJs) and 27% for Gulfstreams in terms of aircraft usage and block hours.
The significant performance resulted in its seventh consecutive year of profitability even though the fleet flew with one less BBJ which is undergoing a $9m refurbishment in France.
"From both an operational and financial standpoint, 2012 proved to be a year of stability and persistent growth," said Shane O'Hare, President and Chief Executive Officer of Royal Jet.
"Moving forward into 2013 and considering the positive economic outlook for the UAE, Royal Jet will continue to set benchmarks in the private jet industry."
2012 saw Royal Jet operate more than 630 VIP charter trips and 230 Medevac trips with a total of over 3,135 flights to 370 cities in 136 countries. This growth accentuated the relevance of the luxury flight service provider's core operations and reflected an industry trend of similar growth over the last couple of years.
Earlier last year, Royal Jet announced a 17% increase in first-quarter revenues over the same period in 2011 - the best Q1 performance in the company's history. This was followed by the best summer performance to date with a 19% increase in flying hours over the same period in 2011. A pioneer in providing medevac services through its air ambulance service, Royal Jet has flown more than 1,650 missions to date.
The brokerage team also contributed a significant portion to total revenues and recorded an increase in gross revenue and the Medevac team managed 333 patients in 2012. An increase in block hours per aircraft continued in 2012 rising 4% for BBJs as compared to 2011, and up more than 25% for Gulfstreams over last year and more than 4% for the Learjet aircraft.
The fourth F1 season at Yas Marina circuit in November last year saw Royal Jet's Fixed Base Operation (FBO) cap a sterling performance with over 800 movements during the year.
The FBO business has now moved to long term agreements as opposed to ad-hoc contracts which will see the facility benefit further from continued business throughout the year.
A significant announcement made last year was the launch of a luxury travel division - Royal Jet Luxury Vacations (RJLV) - in partnership with one of the UK's largest independent luxury travel providers, Eden Luxury Group. This partnership has added value to Royal Jet's present air charter client base and has created a total luxury travel solution for those seeking vacations outside of the present charter business. With this new division, Royal Jet is able to offer bespoke holidays to its customers.
"While RJLV customers get a bespoke holiday, all our customers, be it through our charter service, Medevac or through brokerage, receive a bespoke service that has come to be an industry standard. Our customers have come to appreciate and love this service that makes Royal Jet so unique," explained O'Hare.
Every aspect of leisure or corporate travel provides a tailor made approach. Be it the unique bedroom in the sky, hand chosen bedsheets and toiletries, personalized food service and meals created by a 5-star Michelin chef onboard, spacious bathrooms, in-flight entertainment and internet connectivity, Royal Jet creates this bespoke service to customer's tastes and likes. Royal Jet has ambitious plans even as it gets ready for its 10th anniversary celebrations.
"As we look forward to the future, we are assessing our long term fleet plan which would include replacement of the existing BBJ fleet by 2016,"continued O'Hare.
"As we step into our 10th year of operation, we continue to deliver the strategic vision for Abu Dhabi through the vision of our chairman, HH Sheikh Hamdan bin Mubarak Al Nahyan, and the support of our shareholders," O'Hare added.
"The economic outlook for 2013 remains buoyant,and with a number of new initiatives planned for the year I look to the rest of the year with confidence."
Royal Jet is participating with a much bigger presence at the 2nd Abu Dhabi Air Expo being held at the Al Bateen Executive Airport between 5-7 March 2013.
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