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Estonian Air reports 'significant' decline in net loss in 1Q2013

3-May-2013 3:13 PM

Estonian Air reported (02-May-2013) a significant decline in net loss to EUR4.9 million in the first three months of 2013. The carrier also reported a 5% year-on-year increase in revenue to EUR16.2 million despite a 13% decline in passenger numbers to 121,700. [more - original PR]

Estonian Air: “The current developments in our restructuring progress give us hope that Estonian Air will reach the break-even point in core business on a monthly basis at some point during the summer season. The main objective is to reach profitability by the year 2015,” Jan Palmér, CEO. Source: Company statement, 02-May-2013.