newstodate.aero
Aug 31, 2018 (newstodate): By November 2018, the Danish charter and ACMI carrier Jet Time expects to report a second year, 2017/18 ending August 31, 2018, in black figures.
-Compared to the previous year ending with a DKK 12.5 mio surplus after a DKK 298 mio loss the year before, our expectations this year are more modest as the extraordinarily fine result in 2017/18 was primarily due to one-off cost reductions above budgets in the turn-around plan, says Jorgen Holme, Jet Time CEO.
-It is safe to state the we are now past a deep-going turn-around process that started in summer 2016 to bring back Jet Time on a firm footing after a period of turbulence and financial woes in the wake of uncontrolled growth and diversification.
-Our current strategy is based on one simple principle: taking complexity out of the business! Today we are building our development one a single-type aircraft fleet comprising Boeing 737NG aircraft for charter and ACMI operations, cost-efficient management, and lean processes.
-Our prime focus is on serving tour operators with charter flights, and we are happy to count the top-5 companies among our customer portfolio. This will continue to provide the mainstay of our business, but at the same time we are seeing growth potentials primarily in the ACMI market.
-Today the split between charter/ACMI is roughly 80/20, but the ACMI segment will undoubtedly grow further in importance in the years ahead, says Mr Holme.
Jet Time reduced complexity by performing its last freighter flight on April 28, 2017, thus closing down its loss-making cargo activities starting with the acquisition of its first Boeing 737-300QC aircraft in March 2010.
Complexity was further eliminated as Jet Time performed its last flight for SAS on September 2, 2017, abrogating a contract for regional flight operations with SAS signed on April 5, 2013, comprising eight ATR 72-600 aircraft that were re-delivered to NAC.
Also part of the efforts to take out complexity of the business is outsourcing handling and line maintenance works outside Jet Time's own base.
-Compared to the previous year ending with a DKK 12.5 mio surplus after a DKK 298 mio loss the year before, our expectations this year are more modest as the extraordinarily fine result in 2017/18 was primarily due to one-off cost reductions above budgets in the turn-around plan, says Jorgen Holme, Jet Time CEO.
-It is safe to state the we are now past a deep-going turn-around process that started in summer 2016 to bring back Jet Time on a firm footing after a period of turbulence and financial woes in the wake of uncontrolled growth and diversification.
-Our current strategy is based on one simple principle: taking complexity out of the business! Today we are building our development one a single-type aircraft fleet comprising Boeing 737NG aircraft for charter and ACMI operations, cost-efficient management, and lean processes.
-Our prime focus is on serving tour operators with charter flights, and we are happy to count the top-5 companies among our customer portfolio. This will continue to provide the mainstay of our business, but at the same time we are seeing growth potentials primarily in the ACMI market.
-Today the split between charter/ACMI is roughly 80/20, but the ACMI segment will undoubtedly grow further in importance in the years ahead, says Mr Holme.
Jet Time reduced complexity by performing its last freighter flight on April 28, 2017, thus closing down its loss-making cargo activities starting with the acquisition of its first Boeing 737-300QC aircraft in March 2010.
Complexity was further eliminated as Jet Time performed its last flight for SAS on September 2, 2017, abrogating a contract for regional flight operations with SAS signed on April 5, 2013, comprising eight ATR 72-600 aircraft that were re-delivered to NAC.
Also part of the efforts to take out complexity of the business is outsourcing handling and line maintenance works outside Jet Time's own base.