Boutique aviation company PhilJets Aero Services Inc. said it expects a 60-percent increase in revenues to P150 million this year from P94 million in 2016 as it pursues an expansion program.
PhilJets chairman and chief executive Thierry Tea said the revenue forecast would be a challenge for the company to effectively sustain operations and be profitable at the same time.
“We are in an industry that requires huge resources in a lot of aspects, from human capital to assets and equipment but also in terms of infrastructure, systems and if we do not grow further, it is challenging to be sustainable, because technology evolves very fast and so does the market,” said Tea.
He said that in line with the growth and development of the business, PhilJets would add to its fleet a Cessna Citation XLS+ this year.
PhilJets also anticipates the delivery within the first semester of 2017 of a brand-new Bombardier Challenger 350, a super-mid size business jet that boasts of industry-leading cabin technology and management systems.