Flyglobespan win another MOD contract
22.11.08
Edinburgh based airline Flyglobespan expects to generate more than £40 million in revenue through aircraft leases to the Ministry of Defence and other operations. It recently started operating a Falklands service from Brize Norton for the MoD, and has now agreed a separate five-month arrangement that will see another Boeing 767 300ER flying to Qatar from the RAF base. The new contract runs from December, meaning the aircraft returns in time for the summer transatlantic flying programme.
Chairman Tom Dalrymple said: ‘These MoD contracts and other recently-negotiated arrangements that we have over the winter will generate over £40 million worth of revenue at a time when the UK holiday market is at its most quiet. Around 80% of our long-haul fleet and over 50% of our short-haul aircraft are generating revenue through various leasing arrangements. These will have a hugely positive impact at a traditionally lean time and leave us much more strongly positioned as summer approaches.’
Mr Dalrymple said he had ensured the company had heeded the lessons from rivals’ failures. He said: ‘Other carriers mothball chunks of their fleet and lay off huge numbers of staff during the winter. Our strategy means continued work for more of our employees at a time when others are making staff redundant. We are ahead of plan at the moment. But we are well aware that the credit crunch may bite further into the everyday pocket and have to watch the market and ensure our product is spot-on.’
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