newstodate.aero
May 03, 2012 (newstodate): While still fighting an uphill battle, Estonian Air emerged from this year's Q1 with rather promising trends.
The carrier actually managed to increase its revenues by four percent while seeing its continued loss down by 40 percent, compared to Q1, 2012.
The positive tunes reflect that the restructuring of the carrier is now beginning to show results.
-Estonian Air started with extensive restructuring process in January and regarding this we have critically reviewed our network and all cost items. The results of the first quarter give us confidence of being on a right track with the restructuring. We have succeeded to reduce the loss significantly and at the same time increase revenue with less passengers, says Jan Palmer, Estonian Air CEO.
-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, says Mr Palmer.
In Q1 2013, the carrier transported a total of 121,700 passengers, down 13 percent y-o-y.
Estonian Air now operates a reduced route network comprising flights from Tallinn to Stockholm, Copenhagen, Amsterdam, Brussels, Oslo, Moscow, St. Petersburg, Kiev, Vilnius and Trondheim.
Besides, the carrier offer seasonal flights between Tallinn and Paris, Nice.
The carrier actually managed to increase its revenues by four percent while seeing its continued loss down by 40 percent, compared to Q1, 2012.
The positive tunes reflect that the restructuring of the carrier is now beginning to show results.
-Estonian Air started with extensive restructuring process in January and regarding this we have critically reviewed our network and all cost items. The results of the first quarter give us confidence of being on a right track with the restructuring. We have succeeded to reduce the loss significantly and at the same time increase revenue with less passengers, says Jan Palmer, Estonian Air CEO.
-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, says Mr Palmer.
In Q1 2013, the carrier transported a total of 121,700 passengers, down 13 percent y-o-y.
Estonian Air now operates a reduced route network comprising flights from Tallinn to Stockholm, Copenhagen, Amsterdam, Brussels, Oslo, Moscow, St. Petersburg, Kiev, Vilnius and Trondheim.
Besides, the carrier offer seasonal flights between Tallinn and Paris, Nice.