Abu Dhabi's Royal Jet sees 32% rise in 2011 revenues
Royal Jet, the Abu Dhabi-based luxury airline, said on Tuesday that it has recorded its best-ever business results during the first nine months of 2011.
President and CEO Shane O'Hare said revenues were up by 32 percent compared to the same period last year, driven by a 30 percent increase in flight hours. It did not give details regarding profit levels.
"We are absolutely delighted with this performance as it justifies our decision to continue to invest in our products and services against the backdrop of continued difficult market conditions," said O'Hare.
"We have also benefited from improved operational efficiencies across every area of our business which have come as a result of a far-reaching business re-alignment programme completed earlier this year," he added.
He said that based on current market forecasts, the growth trajectory will be maintained "through to the end of the year - and well into 2012".
Royal Jet has this year set up an operational base in Saudi Arabia, invested in its brokerage business and appointed new general sales agreements (GSAs) in Oman and India, it said in a statement.
Royal Jet said it is midway through a five year expansion plan, which involves plans to increase its fleet size and flexibility.
O'Hare added: "Royal Jet remains committed to raising the bar for the global private jet industry in terms of security, and exceptional service standards so as to ensure continued profitability and growth."