Enter Air has reported increased revenue during the first nine months of 2019 coming in at PLN 1.34 billion, marking an increase of 26.4% from PLN 1.06 billion in the corresponding period of 2018.
This generated operating profit of PLN 230.9 million, 88% growth from the first nine months of 2018. With net profit standing at PLN 104.5 million, up 32.9%.
Grzegorz Polaniecki, management board member of Enter Air, said: “As always, the summer season is the busiest period in the industry when we operate at full speed and the result is clearly visible in our outstanding financial results.
"At the peak of the season we operated 25 aircraft carrying the customers of Poland’s four largest travel agencies and many international travel agencies.Robust market conditions and the related unwavering demand for our services has been conducive to these results.
"We are a tried and true partner for the largest and at the same time the best tour operators on the market. That means we have been able to grow the size of our business and enhance our effectiveness in a consistent manner. These results are better than what we posted in the corresponding period of last year, chiefly due to the extensive demand for flights during low season and stable demand in the summer. The European market is gradually dispensing with oversupply in our market sector.
"Those players who overinvested are successively going under as they planned for excessively optimistic growth. Enter Air has always planned and delivered its undertakings conservatively, which has produced outstanding results in the long run, placing us among the top airlines in Europe."
In October, Enter Air and TUI Poland signed an extension to the current contract for the Winter 2019/2020 season. Consequently, the value of the contract in terms of the base program rose to $31.4 million while additionally extending collaboration with this tour operator by another two years.
The value of the contract in its first year for the Summer 2020 and Winter 2020/2021 season is $147.9 million. The exact volume of the Summer 2021 and Winter 2021/2022 tourism seasons will be determined in the future. The value of the contract for the second year will be no less than $147.9 million.
In the summer season, Enter Air conducted flight operations using 21 Boeing 737-800 aircraft.