EANS-Adhoc: SkyEurope Holding
SkyEurope´s Q2 and H1 2009 operating results
improve significantly; new aircraft deliveries in progress.
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
6-month report
27.05.2009
Network maturity and elimination of poor performing routes results in improved operational performance, Q2 and H1 adjusted operating loss reduced by 41.5% and 26.7% respectively versus Q2 and H1 2008 before non-recurring items; Revenue per seat increased by 7.2% in Q2 and 13.1% in H1 2009 versus Q2 and H1 2008; Average revenue per passenger increased 1.7% and 11.2% in Q2 and H1 2009 respectively, despite a weakened economy, the effect lower fuel prices normally have on airfare pricing, and Easter not falling within the reporting period in 2009; Load factor up 3.6% and 1.1% in Q2 and H1 2009 respectively; load factors improved consistently in the four consecutive months to 31 March 2009; Ancillary revenue per passenger increased by 125.1% in Q2 2009 (up 135.2% for H1 2009 versus H1 2008) Benefits of lower fuel costs realised in Q2 and H1 2009, fuel per seat dropping 36.2% versus Q2 2008 (9.8% in H1 2009 versus H1 2008). Benefits of lower fuel prices versus 2008 are expected for the remainder of the fiscal year; The capacity reduction program put in place for the winter period to address macroeconomic factors, impacted overall utilization and resulted in less sectors produced and, therefore, higher unit costs. Redelivery of leased aircraft, as announced on 9 January, resulted in EUR 3.2 million of non-recurring expenses recorded during Q2 (a total of EUR 5.4 million during H1). Replacement fleet plan to substitute the aircraft returned in January already in place: three Boeing 737 classics already delivered and flying with an additional three leases signed and expected for delivery before the end of May 2009.
Nick Manoudakis, Chief Financial Officer of SkyEurope, said, "SkyEurope offers very competitive pricing on attractive routes and, despite the difficult global economy, we have managed to improve our operating result for the first half of the financial year. We have eliminated much of the downside risk in our business and have seen benefits coming through from greater network maturity and the consolidation of routes from our bases in Vienna, Prague and Bratislava. We look forward to further improvement in the second half of the year and beyond."
The full report is available on the company homepage under "investor relations". http://www.skyeurope.com/en/about-us/investor-relations/f inancial-reports.aspx
end of announcement euro adhoc
Contact:
SkyEurope Holding AG
Nick Manoudakis
Chief Financial Officer
Tel +421 2 4850 1332
investor.relations@skyeurope.com
www.skyeurope.com
Branche: Air Transport
ISIN: AT0000497003
WKN: A0F5WU
Index: WBI, Standard Market Continous
Börsen: Wien / official market