Saker Aviation Services, Inc. (SKAS), an aviation services company specializing in ground-based services to the general aviation marketplace, has announced revenue and net loss in the three months ended March 31, 2017 of USD 2,041,261 and USD 152,119, respectively, were down 31.2%, and USD 338,485, respectively, as compared to revenue of USD 2,967,080 and net income of USD 186,366 in the three months ended March 31, 2016, the company said.
“The first quarter of 2017 was challenging, as anticipated,” stated Ron Ricciardi, the Company´s President. “The final phase of air tour reductions, which occurred on January 1st and is now at the full 50%, was the primary driver of our results.”
The Company also reported Adjusted EBITDA of USD 87,180 for the three months ended March 31, 2017, a decrease of USD 383,069 or 81.7% as compared to Adjusted EBITDA of USD 475,249 in the three months ended March 31, 2016.
Saker Aviation Services, through its subsidiaries, operates in the aviation services segment of the general aviation industry, in which it servea as the operator of a heliport, a fixed base operation (FBO), and as a consultant for a seaplane base that it does not own.
FBOs provide ground-based services, such as fueling and aircraft storage for general aviation, commercial and military aircraft, and other miscellaneous services.