Old 8th May 2019, 17:01
  #58 (permalink)  
PCAU
 
Join Date: May 2019
Location: Global
Posts: 5
Originally Posted by WannaBeBiggles View Post
From memory AirNorth accounted for less than $2mil of that loss, roughly the cost of only one second hand CF34-8E from the sandpit. How many new engines did AN need in the last FY? So if it weren't for that, it wouldn't be a stretch to argue the company is a profitable entity..
Quite right Biggles, a quick perusal of Bristows reports reveals the following “Historical Fixed-Wing Performance” for AirNorth:

FY15: EBITDA $0.7m (1Q Only)
FY16: EBITDA $12.4m (No Loss Making Qs)
FY17: EBITDA $8.9m (No Loss Making Qs)
FY18: EBITDA $7.2m (Q4 Loss of $1.4m)
FY19: EBITDA -$1.6m (Q1 Profit of $0.2m)
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