28 NOVEMBER 2016
BTN also goes out by email every Sunday night at midnight (UK time). To view this edition click here.
The Business Travel News
PO Box 758
Edgware HA8 4QF
+44 (0)20 8952 8383
© 2020 Business Travel News Ltd.
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.”
All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum
No one has commented yet, why don't you start the ball rolling?