Saturday, January 26, 2013

Air Malta announces its third quarter (Oct-Dec 2012) results, an operating loss for the quarter of €4.8 million

Air Malta announced its third quarter (Oct-Dec 2012) results that, according to the airline, "confirm steady financial progress. During this period the airline has halved its operating loss, increased its revenue, seat load factor and passenger figures over the same period last year."

The national airline has reduced the operating loss for the quarter to €4.8 million (Q3 2011: €9.8 million loss). The net result position after restructuring costs (largely one-time charges) and interest costs is a loss of  €8.5 million (Q3 2011: €11.9 million loss), as anticipated in the restructuring plan approved by the European Commission.  

These figures continue to build on the progress registered in the first two quarters of the financial year and show that the airline is on track to achieve its stated milestone of halving last year's €30 million operating loss in the current financial year.  

It said that these positive interim third quarter results were driven by constant improvements of the airline's revenue (+9.7% to €47.7 million), passengers numbers (+3.5% to 377,951 passengers) and seat load factor (+1.0% to 75.1%). 

(Source: maltastar.com, 25-Jan-2013)