newstodate.aero
Jun 20, 2014 (newstodate): Like other carriers in the region, Estonian Air has also been affected by the turmoil in Ukraine, as seen from the carrier's figures on performance in May 2014.
-Up to May, we were in line with our restructuring plan. In May we had better than expected development on our routes to Stockholm and Moscow, but continued lower passenger volumes on Kiev due to the situation in Ukraine and increased competition and pressure on prices on most of our other routes ended up with a May result a bit lower than we anticipated, says Jan Palmer, Estonian Air CEO.
-However, in June we have seen the passenger volume coming back, but it remains to be seen how the price competition will affect us.
In May 2014, passenger volumes were down by six percent, y-op-y, to 49,613, and in the first five months passenger volumes dropped 7.5 percent, y-o-y, to 204,359.
In January-May 2014 the volume of flight operations was down 8.9 percent, y-o-y, indicating improving passenger loads on flights.
Still working on a strictly tailored business model, the carrier now offers flights on regular routes to Stockholm, Copenhagen, Amsterdam, Brussels, Oslo, Moscow, Munich, St Petersburg, Kiev, Vilnius and Trondheim.
In addition, from May to September, Estonian Air flies to Nice and Split, and from June to August to Paris and Berlin, and from December 2014 to March 2015, Estonian Air will add seasonal flights to Munich.
The carrier's financial performance is till burdened by obligations on two excess aircraft on lease contracts till 2015.
-Up to May, we were in line with our restructuring plan. In May we had better than expected development on our routes to Stockholm and Moscow, but continued lower passenger volumes on Kiev due to the situation in Ukraine and increased competition and pressure on prices on most of our other routes ended up with a May result a bit lower than we anticipated, says Jan Palmer, Estonian Air CEO.
-However, in June we have seen the passenger volume coming back, but it remains to be seen how the price competition will affect us.
In May 2014, passenger volumes were down by six percent, y-op-y, to 49,613, and in the first five months passenger volumes dropped 7.5 percent, y-o-y, to 204,359.
In January-May 2014 the volume of flight operations was down 8.9 percent, y-o-y, indicating improving passenger loads on flights.
Still working on a strictly tailored business model, the carrier now offers flights on regular routes to Stockholm, Copenhagen, Amsterdam, Brussels, Oslo, Moscow, Munich, St Petersburg, Kiev, Vilnius and Trondheim.
In addition, from May to September, Estonian Air flies to Nice and Split, and from June to August to Paris and Berlin, and from December 2014 to March 2015, Estonian Air will add seasonal flights to Munich.
The carrier's financial performance is till burdened by obligations on two excess aircraft on lease contracts till 2015.