Saker Aviation reports USD3m in Q1 2016 revenue

Saker Aviation Services, Inc. (SKAS) has reported revenue and operating income in the three months ended March 31, 2016 of USD2,967,080 and USD373,078, respectively, up 19.3 percent and 341.5 percent, respectively, as compared to revenue of USD2,487,115 and operating income of USD84,509 in the three months ended March 31, 2015, the company said.

A 17.6 percent upturn in total fuel gallons offset lower average fuel costs, which lead to lower average fuel prices charged, to drive fuel sales revenue up 9.9 percent. A corresponding increase in services and supply items contributed to the 19.3 percent upsurge in total revenue.

The company also reported adjusted EBITDA of USD475,249 for the three months ended March 31, 2016, an increase of USD238,531 or 100.8 percent as compared to adjusted EBITDA of USD236,718 in the three months ended March 31, 2015.

Saker Aviation Services, Inc., through its subsidiaries, operates in the aviation services segment of the general aviation industry, in which it serves as the operator of a heliport, a fixed base operation (FBO), and as a consultant for a seaplane base. FBOs provide ground-based services, such as fueling and aircraft storage for general aviation, commercial and military aircraft, and other miscellaneous services.