Story ID: 592ABSJets
Profits Rising At Czech Charter Group ABS
By: Neelam Mathews
Caption: Prague-based aircraft charter and management provider ABS Jets recorded its best-ever revenues in 2011.
Word Count: 186
Prague-based aircraft charter and management provider ABS Jets recorded its best-ever revenues in 2011, breaking the CZK1 billion ($51 million) barrier for the first time. While this represents an increase of 2 percent over the previous year, gross profits increased by 23 percent compared to 2010, to CZK44 million ($2.25 million). The successful issue of a portfolio of Eurobonds in late 2011 propelled ABS into the top level of companies on the Czech stock exchange.

Major infrastructure investments made in 2011 included opening a 64,585-sq-ft hangar at its headquarters in Prague and upgrading its Hangar C, now a dedicated maintenance facility. The addition of two aircraft has taken its fleet to 13–five Embraer Legacy 600s, a Cessna Citation Bravo and a Bombardier Learjet 60XR. Last year, its contract as an authorized sales representative for Embraer business aircraft was renewed and it sold a Phenom to a Czech buyer.

In addition, the company is reducing its carbon footprint through the installation of Czech Windtronics East wind turbines. ABS Jets is one of the first companies to use electric cars, which it does at its facilities in Prague and Bratislava.