Estonian Air earned profit in June and July
AUG 26, 2015: “This year profitable summer months indicate that the restructuring plan has helped us to establish a solid foundation for long-term sustainability. Active sales in Estonia and destination markets and capacity providing for other airlines have contributed to the positive outcome. In addition, a wider choice of flight destinations and improved load factor shows more effective usage of our assets,” said Indrek Randveer, the CCO of Estonian Air. “We will continue to develop our business and we realize that in order to keep sustainable profit and serving direct flights from Tallinn we need to find service opportunities from Scandinavia and Europe as well. For instance, operating SAS and Austrian Airlines flights as capacity provider and serving Swedish domestic flights starting from October where our business risks are hedged,” added Randveer. “Approaching autumn and winter time will bring a low flight season, and we are planning to have losses in 2015. Nevertheless, our results so far have been better than budgeted and next year we are aiming to reach the break-even,” said Randveer. Estonian Air has increased its sales and market share although the aviation market as a whole is in decline and the competition is increasing. Estonian Air carried 62 559 passengers in June, which is an increase of 14 percent and 65 643 passengers in July, which is an increase of 18 percent. In the first seven months Estonian Air carried altogether 341 591 passengers, out of which 330 180 on regular flights. The total number of passengers increased 8.5 percent and on regular flights 9.1 percent compared to the same period last year. In the first seven months Estonian Air operated 7 040 regular and charter flights, which is 13 percent more than during the same period last year.