The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Low cost air carrier SkyEurope sees loss go up by 64.3% y/y for past fiscal year.

Low cost air carrier SkyEurope sees loss go up by 64.3% y/y for past fiscal year. The fiscal year of the low cost airline SkyEurope ended on September this year and the company registered an EBIT loss of EUR 55.2mn, up by 64.3% y/y, the company reported. The revenues increased significantly by 40.7% y/y to EUR 158.6mn for the period as the number of the transported passengers increased  by 48% y/y to 2.6mn people. A key factor for this growth was that the airline boosted its capacity by 44% as it bought five new Boeing planes and opened 35 new routes. Capacity utilisation, however, dropped by 2.1pps y/y to 75.6%. The plane acquisition together with the establishment of another operating base in Prague negatively influenced the financial result of the company. An additional factor were the high oil prices on the international markets as the fuel costs represented 23% of the total operating costs. Fuel costs were up only by 6.4% y/y due to hedging activities of the airline and boosted total operating costs by 46.2% y/y to EUR 213.8mn for the period.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree