- Altair International Corp. (ATAO, Financial) reports a 12% year-over-year revenue growth of nearly $10 million.
- Fleet expansion at Premier Air Charter with two new Gulfstream IV aircraft.
- Pursuing FAA certification for servicing other charter airlines to create a new revenue stream.
Altair International Corp. (ATAO), through its merger with Premier Air Charter, reported a 12% year-over-year revenue growth, amounting to nearly $10 million in the first half of the last year. This growth was primarily attributed to additional chartered hours gained from new aircraft acquisitions.
Premier Air Charter, operating within the $32 billion global air charter market, has recently expanded its fleet to 10 aircraft with the addition of two Gulfstream IV jets. This expansion is part of a strategic move to tap into higher-value charter opportunities. The company aims to further bolster its offerings by applying for a "10 or more" passenger FAA certificate.
In an effort to capitalize on the burgeoning market demand, Premier Air Charter maintains an in-house maintenance team, which they consider a key competitive advantage. The team ensures the fleet's safety and reliability, contributing to a seamless travel experience for clients. Additionally, the company plans to secure certification to extend its maintenance services to other charter airline aircraft, creating a potentially lucrative new revenue stream.
The North American private jet market logged 5,238,986 flight hours in 2024, which marks a 16.3% increase compared to pre-Covid 2019 levels. This significant rise underpins strong market conditions that Premier Air Charter aims to leverage in its growth strategy through 2025.
