SkyEurope hopes to reach cruising speed and profitability during 2006-07

The company closed the 2005 financial year (which ended on September 30) with a net loss of EUR 26.8 million, but managed to increase its revenues to EUR 112.7 million in comparison with 2004 when they amounted to EUR 52.6 million. Higher revenues also resulted from a larger number of passengers carried on a wider number of connections. The results were negatively influenced by high activity costs and hikes in the price of aviation fuel (which account for 30% of operational costs). This year the carrier plans to increase the number of passengers to the level which would guarantee profitability. Additionally, over the next two years SkyEurope will replace its current fleet with 16 more capacious and cheaper in maintenance Boeing 737-700. (Parkiet, p. 7) A.F.