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International Air Charter’s Dubai revenues soar 238 per cent during June-July, 2006

United Arab Emirates: Wednesday, August 23 - 2006 @ 13:20

The company’s revenue hit the USD 2.2 million-mark, notching a staggering 238 per cent rise over the USD 650,000 generated during the corresponding period in 2005. The increase was largely driven by the huge transportation demand triggered by the 2006 World Cup Football in Germany as well as by the summer onrush of GCC residents to popular European and American destinations.

The UAE accounted for 20 per cent of the overall revenue generated during the June-July period, while the remaining 80 per cent came from other Gulf countries and through the different IAC representatives in the region.

Hugh Courtenay, CEO, IAC, said,

“The last couple of months marked one of the most exciting phases in IAC’s operations in the region. While summer has traditionally induced strong demand for IAC’s charter services, the fact that this year it coincided with the World Cup proved to be a huge revenue boost. It is a testament to IAC’s business readiness and operational excellence that we were able to anticipate and meet this demand, and our strong revenue growth during this period further strengthens our market standing in the region.”

“We view the remarkable surge in IAC revenues during the World Cup as a pointer to the immense potential offered by sports charter travel, and we are fully geared for the upcoming Asian Games in Doha to tap into this growing market. IAC has been expanding its presence in the Middle East by building alliances with prominent regional players, and we are looking to sustain this strong growth momentum into the future,” Courtenay added.

IAC also achieved similarly impressive revenue growth in the UK during the June-July period. During the two months, IAC flew a total of 186 charter flights generating 3.25 million Pounds in revenue.

Thirty per cent of all flights during the June-July period in 2006 were to German destinations hosting World Cup matches. Besides Germany, the Italian city of Olbia and the French Riviera town of Nice were the most popular destinations for IAC customers from the UK.

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Wednesday, August 23- 2006 @ 13:20 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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