Xfly posts loss for 2020

Xfly has stated that its losses for the pandemic year 2020 were “smaller than expected”, mainly due to immediate and comprehensive measures to adjust the cost base to remaining revenues and production. Xfly posted a loss of €6.5 million during 2020, mainly from the first half year. During latter half of 2020 Xfly states that it adapted to a lot less production than originally planned by losing 50% of its employees and reducing workload of remaining staff as well as benefitted from the “amazing support” from suppliers, lessors, and customers. The losses nevertheless led to Xfly’s owner, Nordic Aviation Group