Atlantic Airways reports losses in 1Q2012

Atlantic Airways revenue up 9% - financial highlights for three months ended 31-Mar-2012:

• Total revenue: DKK91.9 million (EUR12.4 million), +8.8% year-on-year;
  • Passenger: DKK59.4 million (EUR8.0 million), +12.7%;
• Total operating costs: DKK84.9 million (EUR11.4 million), +13.0%;
  • Fuel: DKK19.8 million (EUR2.7 million), +41.0%;
  • Labour: DKK22.2 million (EUR3.0 million0, +5.8%;
• EBITDA: DKK7.0 million (EUR946,581), -24.5%;
• EBIT (loss): (DKK3.7 million) (EUR499,740), compared to a loss of DKK314,082 (EUR42,248) in p-c-p;
• Net profit (loss): (DKK4.3 million) (EUR579,088), compared to a loss of DKK2.1 million (EUR286,949) in p-c-p;
• Scheduled passenger numbers: 36,253, +8.7%;
• Scheduled load factor: 73%, +2 ppts;
• Total assets: DKK510.5 million (EUR68.7 million), +31.6%;
• Cash and cash equivalents: DKK80.0 million (EUR10.8 million), -21.5%;
• Total liabilities: DKK273.1 million (EUR36.7 million), +59.0%.

*Based on the average conversion rate at EUR1 = DKK7.4343 for the period