Meridiana fly Group releases 1H2010 results

Meridiana fly Group, formerly Eurofly, reports the following financial highlights for the six months ended 30-Jun-2010:

• Revenue: EUR260.1 million, -19.8%;
• Costs:
  • Fuel: EUR64.9 million, +11.0%;
  • Labour: EUR39.0 million, -31.0%;
• EBITDA (loss): (EUR20.6 million), compared with a loss of EUR24.5 million in p-c-p;
• EBIT (loss): (EUR28.1 million), compared with a loss of EUR32.9 million in p-c-p;
• Net profit (loss): (EUR27.5 million), compared with a loss of EUR35.1 million in p-c-p. [more]

Meridiana: "The general economic trend and the trend in demand in the leading economies are still expected to remain at low levels, affecting the spending capacity of families to a great extent. In this negative scenario, characterised by difficult market conditions and by a high level of competition between operators in the industry, the current year represents an important period of transition for the company after contribution of the aviation business by Meridiana," Company statement. Source: Meridiana: 29-Oct-2010.