ACC Aviation reports Q1 20 per cent revenue growth

posted on 6th May 2021 by Edward Robertson
ACC Aviation reports Q1 20 per cent revenue growth

ACC Aviation has reported a 20 per cent increase in revenue growth for Q1 2021 having adapted its business model to meet the needs of the Covid-19 pandemic.

A statement put out by the commercial aviation consultancy reporting the results said before the global pandemic struck, much of its work was based on developing plans for airlines looking for high growth.

However, once aircraft were mothballed as international borers closed, ACC was forced to pivot into two new areas, the first being helping airlines restructure their businesses, raise fresh capital, renegotiate financial obligations and offload excess assets.

Secondly, the company focused on supporting new airlines as well as those filling market gaps left by incumbent carriers while taking advantage of lower cost aircraft availability and fresh balance sheets.

The changing strategy led to the 20 per cent overall growth in revenues and came following a 200% increase in charter sales in 2020.

This meant that some of ACC’s trading highlights in the first quarter included the sale of a Boeing 737-400 to Aeronaves while also working on behalf of airlines in Canada, Asia and Africa.

Consulting activities included advising various businesses based both in Africa and the Middle East.

ACC Aviation CEO Phil Mathews: “It has been the most unprecedented of times for commercial aviation and we are not out of the woods yet.

“Our 54-strong team, working across five continents, stepped up massively to help airlines with all manner of challenges.

“Calling on our diverse areas of expertise we have been able to broaden the support we offer to airlines and financiers.

“We are proud to be a partner that airlines turn to for subcontract flying, leasing, as well as aircraft sales transactions and asset appraisals to help them raise capital.

“Our evolving expertise has benefitted our business and we are now looking forward to further expanding our portfolio in the second half of this year.”