White Eagle Aviation plans to return to profits this year

Poland's first private air carrier, White Eagle Aviation (WEA), controlled by Zbigniew Niemczycki's Curtis Group and German tourist operator TUI, expects to close this year with zł. 8 million - zł. 10 million in net profits, after heavy loss of zł. 5 million in 2002. The company recently downsized its labor by 50% following the decision to leave the charter flights sector, which it considers unprofitable. The company hopes the retrenchments will allow it cut costs and return to profits. The company plans to start offering new passenger services later this year but would not disclose any details as to the form its return to the market would take. At the moment, most of WEA's revenues come from its co-operation with Poczta Polska which accounts for 80% of turnover. According to Niemczycki, Curtis Group would also spend several million dollars on enlarging its Bryza hotel in Jurata. (Parkiet, p. 5) J.K.