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Air Charter Service looks to raise funds
Air Charter Service is seek admission to AIM to raise around £4m to help accelerate its growth.
The international air charter broker operates 2,700 flights a year from offices in the UK, Moscow, New York and Dubai.
The funds will be used to open further offices and develop relationships with governmental and other blue chip organisations which require credit terms of up to 90 days.
The company also wants to raise its profile and incentivise staff.
It reported that its revenues were up 25% to £65.5 million and gross profit up 64% to £7.6m in the year to January 31 2007.
Chris Leach, founder and chairman, said: “The IPO and the new funds raised will provide us with the profile, ownership structure and working capital to allow us to accelerate our progress to date and to capitalise on the significant opportunities ahead of us.”
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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