Operating losses at Air Malta reduced by €4 million to €30 million for its full fiscal year ending March 31. The airline could have reduced its losses to €21 million this year but was affected by a 20% reduction in capacity required by the European Commission and a 30% increase in fuel price, which added €17 million to its annual fuel costs.
Operating revenues was up by €7million to €214 million driven mainly improved yields, a 2% increase in load factor to 75.2%, as well as ancillary revenue growth.
Air Malta flew 1.82 million passenger numbers during the year compared to 1.76 million in the previous year.
Air Malta losses reduce losses
Operating losses at Air Malta reduced by €4 million to €30 million for its full fiscal year ending March 31. The airline could have reduced its losses to €21 million this year but was affected by a 20% reduction in capacity required by the European Commission and a 30% increase in fuel price, which added €17 million to its annual fuel costs.
Operating revenues was up by €7million to €214 million driven mainly improved yields, a 2% increase in load factor to 75.2%, as well as ancillary revenue growth.
Air Malta flew 1.82 million passenger numbers during the year compared to 1.76 million in the previous year.