21-May-2010 12:41 PM

LuxairGroup falls into red in 2009, no return to profit expected in 2010

LuxairGroup revenue down 8.1% - financial highlights for the 12 months ended 31-Mar-2010:

  • Revenue: EUR382.8 million, -8.1% year-on-year;
  • Operating profit (loss): (EUR7.1 million), compared to a profit of EUR1.6 million in the previous corresponding period;
  • Net profit: EUR1.3 million, -84.4%;
  • Passenger numbers: 1.2 million, -3.2%;
  • Load factor: 72.9%, -0.5 ppt;
  • Cargo volume: 672,114 tons, -17%. [more]

LuxairGroup: “The feint upturn in demand that was registered at the beginning of 2010 unfortunately leaves little hope for a regular result for 2010. The weak demand was undermined by a harsh winter season resulting in many flight cancellations. The eruption of the Eyjafjöll volcano in Iceland and the consequent ash clouds over Europe have been causing severe disruptions in air traffic since April 2010; and there is no way of knowing how long this phenomenon will define the business. These events will certainly mark the 2010 balance sheet,” Company statement. Source: LuxairGroup, 19-May-2010.

LuxairGroup: “All LuxairGroup activities experienced daunting regressions in business and revenue. We registered some stabilisation and even a slight climb early 2010, but this won’t be able to bring us back to pre-crisis levels yet,” Adrien Ney, President and CEO. Source: LuxairGroup, 19-May-2010.

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