Adria Airways Revenues up 17%
Flag carried Adria Airways posted operating revenues in excess of EUR 100m for the first seven months of 2007, up 17% year-on-year. Operating profit reached EUR 1.3m compared to a loss of EUR 1.2m last year.
The Adria supervisory board said in a press release on Thursday that the number of passengers topped 600,000 in the seven-month period, which means the company is on track to exceed the one million-mark by the end of the year. The supervisory also welcomed the fact that operating cash flow was positive for the first time in four years (EUR 4.8m), which it says shows the effectiveness of measures that the management carried out in the restructuring process.
The supervisory board was also informed about the management's intention to restructure cargo transport and focus the available reserves into fast-growing passenger transport, which is increasing at a rate of 8% compared to 5.6% on average in Europe.
Adria had a patchy 2005, but it emerged out of the red last year with a profit of EUR 70,000 on sales revenues of just under EUR 160m. The carrier has also been restructuring its fleet, opting for smaller regional jets instead of the short-to-medium range Airbus A320s. Its fleet expanded this year by two 86-seat CRJ 900 jets.
More articles from this issue:
Archive
|