newstodate.aero
Jan 09, 2014 (newstodate): in 2013, Estonian Air saw its passenger volume down by 38 percent to 551,169 passengers- but sees no cause for worry...
-The decline is fully in line with our plans as comprised by the strategy to down-size the airline during a restructuring program initiated in January 2013 in an effort to regain sustainable profitability, says Ilona Eskelinen, Estonian Air PR Manager.
-The turnaround program has included adjusting the route network to cover sustainable and economically feasible core destinations, and ensuring smooth point-to-point connection for the business and public service markets, as well as reducing the company's cost base to match our core business.
-This program has now basically been concluded, but several issues still remain including first of all the return to profits by 2015, at the latest. We have earlier set 2014 as the target but in reality it may be achieved either during 2014 or shortly after the turn of the year. It takes time to move from loss making to profitability.
-We are still awaiting the outcome of the EU investigation into Estonian Air, and as long as this has not been completed we are bound to stick to our restructuring program. No major initiatives can be taken before the process has been fully terminated, says Ms Eskelinen.
During this period of restraint, is operating regular routes to Stockholm, Copenhagen, Amsterdam, Brussels, Oslo, Moscow, Munich, St Petersburg, Kiev, Vilnius and Trondheim.
Besides, seasonal flights to Munich, Nice, Split and Paris will be operated during this summer.
-The decline is fully in line with our plans as comprised by the strategy to down-size the airline during a restructuring program initiated in January 2013 in an effort to regain sustainable profitability, says Ilona Eskelinen, Estonian Air PR Manager.
-The turnaround program has included adjusting the route network to cover sustainable and economically feasible core destinations, and ensuring smooth point-to-point connection for the business and public service markets, as well as reducing the company's cost base to match our core business.
-This program has now basically been concluded, but several issues still remain including first of all the return to profits by 2015, at the latest. We have earlier set 2014 as the target but in reality it may be achieved either during 2014 or shortly after the turn of the year. It takes time to move from loss making to profitability.
-We are still awaiting the outcome of the EU investigation into Estonian Air, and as long as this has not been completed we are bound to stick to our restructuring program. No major initiatives can be taken before the process has been fully terminated, says Ms Eskelinen.
During this period of restraint, is operating regular routes to Stockholm, Copenhagen, Amsterdam, Brussels, Oslo, Moscow, Munich, St Petersburg, Kiev, Vilnius and Trondheim.
Besides, seasonal flights to Munich, Nice, Split and Paris will be operated during this summer.