28 NOVEMBER 2016

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Article from BTNews 28 NOVEMBER 2016

CityJet on track

A 66% reduction in operating losses in 2015 over 2014 was revealed by Dublin-based CityJet over the weekend as it published its latest results. The 2014 figures in turn showed an improvement of 38% over its previous year loss. 

The company said operating losses for 2015 were €10m, down from €30.6m the previous year. “Total revenue reduced from €179.8m in 2014 to €165.1m in 2015 as the airline continued to streamline its business,” a statement said. 

“This followed its independence from former owner, Air France, in 2014,” the statement continued. “This streamlining included significant changes to its network and commercial strategy and a major business process reorganisation programme to make the airline fit for purpose as an independent airline.” 

Executive chairman Pat Byrne said: "These results clearly illustrate the improving trading position of CityJet as we continue to reshape the business into a profitable and sustainable aviation operator. 

“In 2015, we sowed the seeds of this restructuring, ordering new aircraft, acquiring an airline in Finland and securing long-term wet-lease business to de-risk us from the volatility of the air transport markets.”

“CityJet today employs over 900 staff, an increase of 80% on 2015; and we are currently witnessing 2016 revenues 30% higher than 2015.” 

www.cityjet.com

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