Bermuda Aviation Services (BAS) Limited saw revenues jump to $35 million, an increase of 63 percent over 2005 according to results released in the Chairman?s Report.

Income from operations for the period was up 42 percent to $4.2 million, net earnings were ahead 40 percent to $2.8 million, retained earnings were up 21 percent to $13 million and shareholder equity was ahead 121 percent to $30 million.

BAS Chairman Michael Darling said in the report: ?As a result of strategic planning and diversification, we have emerged with a strong performance and the best results to date.?

?The most important event this year was the rights issue. This was supported by 80 percent of current shareholders and the balance by those eager to participate in the future.?

He said on March 3 BAS were able to retire 100 percent of the company?s debt and on March 30 the company purchased the bulk of the minority shareholdings.

Mr. Darling said there remains a small holding, ten percent, in one of the subsidiaries which BAS do not wish to acquire as it involves the company in an important strategic partnership.

?There will be some funds remaining and these will be used to make further acquisitions when opportunities present themselves. Meanwhile, the surplus will help generate income. As a result of all these measures we can expect significant earnings growth in the next twelve months.?