Estonian Air pax up 76%, but not for profit

Airline operates 73% more flights in first eight months

In the first eight months of 2012, Estonian Air carried 603,741 passengers in total, an increase of around 76% compared to the same period last year. Of these, 602,573 were on scheduled flights. The airline operated 13,136 flights, 73% more year-on-year, and the load factor for scheduled flights was reported as 73.2%. The airline flies to 23 destinations.
However, Estonian Air’s economic results for the first half of 2012 reveal that the carrier made a €14.9 million loss for the period. Despite ambitious plans, the 97% state-owned airline has not become profitable this year, even though it promised to do so. Sales revenues grew by 24% in the first half compared to the same period last year, reaching €43.9 million. Estonian Air blamed high oil prices for the results.

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