Another MOD contract for Flyglobespan
22.11.08
Flyglobespan expects to generate more than £40m in revenue through aircraft leases to the Ministry of Defence and other operations. The Edinburgh based airline recently started a Falklands service from Brize Norton for the MoD, and has now agreed a separate 5 month arrangement that will see another Boeing 767 300ER flying to Qatar from the Oxfordshire RAF base. The new contract runs from December, meaning the plane returns in time for the summer transatlantic programme.
Chairman Tom Dalrymple said: ‘These MoD contracts and other recently-negotiated agreements [they have planes in the South America, the Middle East and Asia] that we have over the winter will generate over £40m 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 fleet are generating revenue through leasing arrangements that will have a hugely positive impact at a traditionally lean time and leave us much more strongly positioned as summer approaches.’
Mr Dalrymple said the company had heeded the lessons from rivals’ failures. He said: ‘Other airlines mothball chunks of their fleet and lay off huge numbers of staff during the winter. Our strategy means continued work for more 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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