Slovakia Low-Cost Airline Sky Europe Reports Further Loss
The low-cost airline also saw negative underlying earnings, as measured by earnings before interest, tax, depreciation and amortization, at EUR56.1 million for the full year ending on Sept. 30, according to the figures published late Friday.
In the 2006-2007 financial year, Sky Europe had registered negative earnings of EUR20.9 million.
Revenue meanwhile was up 10.5% to EUR260.9 million, from EUR236.2 million last year.
The losses were due to high fuel costs and poor global economic conditions while the company underwent restructuring, Sky Europe said in its preliminary report.
This included consolidating its bases in Vienna, Bratislava and Prague as well as eliminating less-regularly used routes, which impacted passenger growth, it added.
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(END) Dow Jones Newswires
November 29, 2008 05:52 ET (10:52 GMT)
Publié le 29 novembre 2008 Copyright © 2008 Dowjones
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