Story ID: 
Signature Profits Soar as Expansion Continues
By: Kerry Lynch
Caption: Investments are expected to continue at Signature Flight Support in the second half with improved cash flow.
Word Count: 225
BBA’s Flight Support group, which includes Signature Flight Support and ASIG, is beginning to reap benefits of its rapid expansion over the last five years. First half 2015 profits improved 19 percent despite struggles with ASIG and soft business and general aviation movements.

BBA has now invested $300 million into the Flight Support network and expanded the number of FBOs by 30 percent over the past five years. Signature accounts for more than 90 percent of the division, and BBA Aviation CEO Simon Pryce said its results “are driven by acquisitions that we’ve made in the last 12 months, by the organic drop-through that we have made, and also by Signature’s outperformance against the markets that it operates within.” 

U.S. business and general aviation movements have been up 1 percent, but European movements are down 3 percent. As a result, Signature’s revenues slid 13 percent, to $478 million. But when including acquisitions that contributed $25.1 million in the first half and adjusting for lower fuel prices and foreign exchange changes, organic revenue was up 3 percent. Pryce expects the company to make gains in the second half as recent additions start contributing to performance. This in turn may help spur more investment. “We see a good pipeline of strategic investment opportunity into the second half, particularly and importantly as cash generation begins to accelerate,” he said.