Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

Managing Editor

Charles Alcock

Strong performance in the U.S. market offset declining demand in Europe, the Middle East and Africa, as business aviation services group Gama Aviation reported interim results today for the first half of 2016. Gama also pledged to double the size of its operations over the next two years. For the period through June 30, group profits fell by 7.9 percent, from $30.3 million to $27.9 million on revenues that increased by 13.2 percent from $185.3 million to $209.8 million.

 


Gama revenues in the U.S. climbed by 40.8 percent to $116 million. However, the European market saw a decline of 16.5 percent, to $74.2 million, and the Middle East and Africa dipped by 9.2 percent to $10.8 million. In Asia, where the aircraft management, charter, FBO and maintenance provider only began operations fairly recently, Gama grew its revenues from just $1.4 million to $8.5 million.

 


“Our growth strategy is on track,” commented Gama Aviation CEO Marwan Khalek. “Organic growth will continue apace through the expansion of services and geographies, and we have a clearly defined path to continue our acquisitive growth in a highly fragmented global business aviation services sector. Our strategic goal is to double the scale of our business over the next two years.”

 


Gama now has a total of 153 aircraft under management worldwide, up by 10 percent from 2015. Much of the growth has come in the U.S. market through contracts such as its operating partnership with membership program Wheels Up.

 


In the U.S., aircraft management and charter accounted for most of the revenue growth in the first half of 2016, with the total rising by 44.1 percent to $109.8 million, while ground services, such as maintenance and FBOs, increased by just 0.2 percent, to $6.2 million. In Europe, ground services saw a 6.7-percent boost in revenues, to $18.6 million, but aircraft charter and management declined by 15.2 percent, to $55.6 million. Profits for aircraft charter and management in Europe dipped by 41.9 percent, which Gama said was due to a decision to terminate a number of underperforming legacy contracts, mostly involving flights operated in Africa but serviced from Europe.

 


According to Gama, the second half of 2016 will see further growth for its activities in the U.S. market and also improvement in the Middle East, where it has an operation at Sharjah in the United Arab Emirates. Some improvement also is anticipated in Europe, based on income from longer-term contracts for ground services and cost reductions in aircraft operations. The company indicated that market conditions are especially challenging in the area of discretionary items, such as aircraft modifications.

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