Blue Air, the largest Romanian airline according to the number of passengers transported, announces the financial results for the 12 months ending on September 30 2019.
And, as I mentioned in the title, Blue Air reports that it's on profit in the financial year 2019. According to the Blue Air statement, the operating profit reached 8.9 million EURO. But I'd better let you guys discover some interesting information about Blue Air below.
Financial results
- Operating profit for the financial year 2019 reached 8.9 million euros (compared to an operating loss of 19 million euros in the same period last year), with a level of earnings before leasing and depreciation (EBITDAR) of 51 million euros ;
- The net profit for the financial year 2019 reached 3.4 million euros (before the costs of fleet restructuring and operations), compared to a loss of 24.4 million euros in the same period last year;
- The percentage of ancillary revenues from total revenues increased to 9%, compared to 8% in the same period last year;
- The total incomes for the 12 months remained at a level compared to those of the previous period, of approx. EUR 390 million (excluding passenger taxes);
Corporate governance
- A new leadership team - whose full-term term began in May 2019
- Optimal mix of continuity in Blue Air and experience in aviation and finance;
- Excellent qualification to reach the financial potential of Blue Air;
- Committed to ensuring the profitable growth of the company.
- Advisory board composed of personalities with extensive experience and recognition in their areas of activity
- Independent consultation structure, aligned with Blue Air's commitment to best practices, with experience in representative industries.
Operational performance
- Implementation of the new activity model 'Low-Cost, Low Complexity' with focus on the important things for passengers
- Focused on increasing revenues from ancillary products, simplified operations and reduced costs
- Improved performance in terms of flight punctuality
- Better than direct competitors
- The customer-centered policy has led to an improvement in the average passenger load of aircraft, reaching an annual average of over 80% and over 90% during the summer.
Perspective
- We focus on organic growth, with the main focus on increasing passenger satisfaction.
- Commercial performance will be improved through investments in digitization and IT, increased revenues from ancillary products, fleet renewal and strict cost control;
- We continue to rely on the five pillars of our performance: passenger satisfaction, operational efficiency, employee involvement, social responsibility and added value;
- All these strategic directions will contribute to and ensure the sustainability of Blue Air in the medium and long term