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SkyEurope confident of first ever profit next year

30-Jul-2008

SkyEurope CEO, Jason Bitter, in late Jul-08 stated that he expects the airline to report a profit in 2009, following a successful restructure and business simplification programme. The airline is yet to report a profit since it commenced operations in 2002 and still remains severely financially constrained, reporting cash balance of only EUR13 million at end of 1Q08. Mr Bitter admitted that the airline’s liquidity is “not the strongest”. [526 words]

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Subheadings:

  • Benefiting from hub consolidation and cost control programmes and location in high-growth region
  • To ground two aircraft over European Winter; reduce longer sector services
  • Outlook: on track for better performance
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